Overdraft Protection | Woodstone Credit Union | Federal Way Washington

Courtesy Pay Overdraft Protection

As an added benefit of membership with Woodstone Credit Union, we offer Courtesy Pay overdraft protection on our checking accounts. Courtesy Pay covers you if you inadvertently overdraw your account up to $500. This service helps save you the embarrassment and inconvenience of a returned item as well as the fee normally charged to you by merchants for items returned to them.

Courtesy Pay is automatically available for all checks, ACH, and recurring debit card transactions once your account has been opened for 30 days and remains in good standing.

What you need to know about overdrafts and overdraft fees

An overdraft occurs when you do not have enough money in your account to cover a transaction, but we pay it anyway.

We can cover your overdrafts in two different ways:
  1. We have standard overdraft practices that come with your account.
  2. We also offer overdraft protection plans, such as a link to a savings account which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.
This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?

We do authorize and pay overdrafts for the following types of transactions:
  • Checks and other transactions made using your checking account number
  • Automatic bill payments
We will not authorize and pay overdrafts for the following types of transactions without your consent.
  • ATM transactions
  • Everyday debit card transactions
We pay overdrafts at our discretion, which means we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined.

What fees will I be charged if Woodstone Credit Union pays my overdraft?

Under our standard overdraft practices:
  • We will charge you a fee each time we pay an overdraft (See our Truth in Savings and Fee Disclosure for more information.)
  • There is no limit a limit on the total fees we can charge you for overdrawing your account

Opt-in today for Courtesy Pay on ATM and everyday debit card transactions

  • Online: submit the form below
  • Over the phone: at 253.925.6800 or 800.334.9828
  • In person: at our branch

Courtesy Pay Opt-In