How much time do I have to cover a check paid by Courtesy Pay?
If you do overdraw your account, make a deposit into your account as soon as possible to cover the overdraft amount, plus any fees. We expect that you will want to cover your expenses in 3-4 business days.
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What is the mailing address for the credit union, so I can send a deposit?
U of I Employees Credit Union
P.O. BOX 500
Champaign, IL 61824-0500
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Is there a fee for this service?
Every transaction covered by Courtesy Pay funds may incur a non-sufficient funds (NSF) fee of $25. If you are not aware of your current available balance, you could incur multiple fees by continuing to use your Cash & Check Card or writing checks and overdrawing several times.
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How do I track my account?
Keep your account records up to date and know what your available balance is. I-Branch Home Banking and Touch Tone Teller (217-244-2131 or 800-821-7574) are free services to help you manage your accounts.
At the ATM before making a withdrawal, ask for a “Balance Inquiry” to insure you have funds available for the transaction. Remember, Courtesy Pay funds are available for any ATM, Cash & Check Card, ACH items, or check transaction, but do not appear as available funds in your balance.
Things to keep in mind…
Not all deposits are immediately available for use from your account. When depositing a check, your teller will let you know if there is a hold placed on the funds from the check. The hold will need to expire before you start making withdrawals. If you know you will need to use Courtesy Pay, limit the number of times you may incur fees by making one withdrawal for cash and use the cash to make purchases or payments. This way, you will only incur one fee instead of multiple fees.
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How do I avoid fees?
Link your checking account to a savings account so that if you do overdraw your checking account funds can be transferred automatically, up to six (6) times per month. Regulation D allows for only six (6) electronic transfers out of a savings account or an Illini Draft Money Market account per month.
Set up an Overdraft Protection Line of Credit.
Courtesy Pay will only be used after all other overdraft options have been exhausted.
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