Overdraft Options
Protect yourself from declined payments and unexpected fees with our flexible overdraft options designed to save you money and give you peace of mind.
Overdraft Protection
Overdraft Protection offers a smarter, fee-free way to handle overdrafts by automatically transferring money from another account you own at WEOKIE. This service eliminates overdraft fees entirely by using your own funds from a designated savings, checking, or money market account. It's the most cost-effective overdraft solution available, providing automatic coverage without the worry of fees or the uncertainty of discretionary approval. Best of all, you maintain complete control over your finances since you're simply moving your own money between your accounts.
How it works
- You designate another account in your name as the funding source
- When checking account goes negative, funds automatically transfer from designated account
- Transfer amount cannot exceed the available balance in the designated account
- Term accounts and IRAs are not eligible as designated accounts
- Requires consent to activate
Courtesy Pay
Courtesy Pay is WEOKIE's traditional overdraft service designed to help you avoid the embarrassment and hassle of declined payments when you need it most. This discretionary service allows us to cover your essential transactions - like automatic bill payments, checks, and ACH transfers - even when your account balance falls short. While there is a fee for each transaction we cover, Courtesy Pay can be a valuable safety net for those unexpected moments when timing doesn't work in your favor, helping you maintain your financial reputation and avoid potential late fees from merchants.
How it works
- Covers checks, automatic bill payments, and ACH transactions
- Does NOT cover ATM transactions or one-time debit card transactions unless specifically requested
- If account balance remains negative for 45 days, the account will be closed
- Requires opt-in consent
Eligibility Requirements
- Must be 18 years or older
- Account must be in good standing
- Account must have been open for at least 45 days
- Must have a positive balance when opting in and activation
- Must not receive protected benefits you don't want applied to repay overdrafts
- Only one Courtesy Pay account per member
Service Comparison
|
Feature
|
Courtesy Pay
|
Overdraft Protection
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|---|---|---|
|
Cost
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$15 per transaction
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No fees
|
|
Coverage
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Checks, ACH, Auto Payments
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All overdrafts
|
|
Funding Source
|
WEOKIE funds, which will overdraw your account.
|
Your designated account
|
|
Guarantee
|
Not guaranteed
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Automatic (if funds available)
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Service Priority: If you have both services, Overdraft Protection is used first (when possible). Courtesy Pay is used if Overdraft Protection funds are insufficient.
Tips to Avoid Overdraft Fees
1
Check available balance regularly through mobile app, online banking, phone, or ATMs
2
Track automatic payments (utilities, insurance, loans)
3
Review statements regularly
4
Don't rely on check clearing time (many clear same day)
5
Set up account alerts
6
Consider that Overdraft Protection may be more suitable than Courtesy Pay
Overdraft Protection and Courtesy Pay FAQs
Courtesy Pay uses WEOKIE's funds to cover your overdrafts for a $15 fee per transaction, while Overdraft Protection automatically transfers money from another account you own at no cost. Overdraft Protection is always used first if you have both services.
Yes, you can have both services. If you do, Overdraft Protection will be used first when possible, and Courtesy Pay will only activate if your designated account doesn't have sufficient funds.
You may opt in to Courtesy Pay at any time, but services will not be activated until your account has been open for at least 45 days. If your account has already been open 45 days when you opt in, services are typically activated within 1-2 business days after we receive and process your consent form.
Services are typically activated within 1-2 business days after we receive and process your consent form.
If your account balance remains negative for 45 consecutive days, we may close your account.
You can designate any checking, savings, or money market account that you own at WEOKIE. Certificate accounts and IRAs cannot be used as funding sources.
The transfer will only cover the amount available in your designated account. If you also have Courtesy Pay, it may cover the remaining balance (subject to approval and fees).
Yes, you can change your designated funding account by visiting a branch or calling us at (405) 235-3030.
You must be 18 or older, have an account in good standing that's been open for at least 45 days, and maintain a positive balance when enrolling and activating the service. Your account must not receive Social Security or other protected benefits that you do not want applied to repay an overdraft. For more information see the full disclosures below.
Yes, you can opt out of either service at any time by calling us, using online/mobile banking messaging, or visiting a branch.
No, there are no monthly or maintenance fees for having either service available on your account.
The best ways are to monitor your balance regularly, set up account alerts, track automatic payments, and consider using Overdraft Protection instead of Courtesy Pay since it has no fees.
The overdraft limit is up to $1,200.
Disclosures
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- Overdraft Protection