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How does the credit union help me to avoid overdrafts?

The Island processes paper checks based on their dollar amount, low to high. This means that the smallest dollar amount will be paid first, which generally means more checks clear and you pay fewer overdraft fees. This is also consistent with ACH processing which clears electronic items in low to high dollar amount. Processing by check number or even high to low amount increases fees and creates unnecessary overdraft situations.*** Whenever possible we post credits to your account before any debit.
 
You can also track your balances through our free online banking service and sign up for balance alerts so you'll know when your balance is getting low.

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What is an overdraft protection plan?

An overdraft protection plan helps you avoid costly overdraft fees when you do not have sufficient funds in your checking account for a check, electronic debit, ATM, or debit card transaction you authorized. We all make mistakes; an overdraft protection plan can provide you with peace of mind knowing that your transactions will be covered.
 
When you link your checking account to your Island savings, money market account, or line of credit, we will automatically transfer available funds from them into your checking account to avoid an overdraft situation. Linking your accounts is free although there is a $5 fee charged to your savings, money market account, or line of credit for each overdraft transfer.
 
In order to obtain or modify an overdraft protection plan, call us at 800/848-5654 or visit any Island branch to complete a simple form. It only takes a moment, and will remain in effect until you inform us otherwise.

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What is Courtesy Pay?

When you don't have sufficient available funds in your checking account including any overdraft protection plan you have established to clear your paper checks or pre-authorized electronic transactions, The Island may cover your inadvertent overdrafts up to $1,000* including fees. This overdraft service is called Courtesy Pay, and it protects you from returned checks/electronic debits. It can also help protect your good credit, save you the inconvenience and embarrassment of having your transaction declined, and reduce the possibility of additional merchant fees.

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How do I qualify for Courtesy Pay?

Island members in good standing** with a checking account that has been open for at least 60 days making regular deposits sufficient to cover transactions are automatically enrolled in Courtesy Pay for paper checks and pre-authorized electronic items cleared through the automated clearing house (ACH). This automatic coverage includes recurring debit card transactions for the payment of a bill that you have previously authorized. To check to see if you are enrolled in our Courtesy Pay service, call us at 800/848-5654 or visit any Island branch.

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Is there any coverage for ATM and Point of Sale transactions using my NiftiCard?

Yes, an additional level of protection is available for your ATM and one-time/everyday debit card point of sale transactions known as "Courtesy Pay PLUS." These transactions are ATM withdrawals and retail purchases initiated with your NiftiCard (i.e. WalMart, Vons, Amazon.com). You must qualify for Courtesy Pay to use this additional coverage and it requires that you complete our opt-in form. Call (800) 848-5654 or visit any Island Branch.

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How much does Courtesy Pay cost?

There is no fee to have Courtesy Pay protection, but there is a $27 fee each time an overdraft occurs and we pay it, taking your account negative.
 
We understand that fees and charges can become expensive, that's why we encourage you to track your balance using our free online banking service and balance alerts. We will only assess the fee if you have insufficient available funds in your checking account plus your linked overdraft protection plan accounts. Courtesy Pay is not a loan, and all fees and the overdraft amount (negative balance) are due and must be repaid to us within 7 days to avoid an overdrawn balance fee.

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What transactions does Courtesy Pay cover?

The automatic protection available to all members that qualify allows us to pay paper checks and electronic items cleared through the automated clearing house (ACH) and recurring debit card transactions instead of returning it for insufficient/unavailable funds.
 
The additional level of protection provided by Courtesy Pay PLUS, for which you may opt-in via our online form, allows us to pay your ATM and one-time/everyday debit card point of sale transactions instead of declining it for insufficient/unavailable funds.

An overdraft typically will not be paid in the following situations:

  • Your account is new
  • Your new account has not maintained a positive balance for at least 60 consecutive days
  • You do not make regular deposits to your account, subject to a minimum set by us
  • Any deposit or loan account owned by you or your joint owner does not remain in good standing
  • You or your joint owner has previously caused the credit union to incur a loss
  • You have opted out of the program
  • You have too many overdrafts
  • We receive notice that you or your joint owner have been reported for account abuse or caused a loss to another financial organization or merchant or you misuse your account with us
  • You or a joint owner is under age 18

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What if I don't complete the opt-in form for Courtesy Pay PLUS?

If you do not complete the online opt-in form, Island members in good standing making regular deposits simply retain their automatic Courtesy Pay protection on paper checks and electronic items cleared through the automated clearing house (ACH), including recurring debit card transactions for the payment of a bill that you have previously authorized. However, to retain the maximum protection and reduce the chances of being declined at a purchase, you may want to "opt-in" for the additional coverage.

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What if I don't want the automatic Courtesy Pay protection on paper checks, electronic items cleared through the automated clearing house (ACH), and recurring debit card transactions?

If you would like to be excluded from the discretionary payment of overdrafts entirely, you may opt out. Any owner of the account may authorize this, and it covers all transactions on the account, regardless of which account owner initiated the transaction. To opt out:

  • Call us at 800/848-5654, or
  • Provide notice to us in writing, and return it to us via fax at 619-591-7475, or mail at North Island Credit Union, Attn: Deposit Support Services, P.O. Box 85833, San Diego, CA 92186-5833

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Terms & Conditions

1 Federal Regulation D limits the number of transfers from savings and money market accounts to 6 per month. A $10 fee is charged for each transaction over the regulatory limit.

2 Payment of an inadvertent overdraft is not guaranteed and is paid at the Credit Union's sole discretion. Courtesy Pay is not a loan, and all fees and the overdraft amount (negative balance) are due and must be repaid to us within 7 days to avoid an overdrawn balance fee.

3 Lower limits may be granted at the discretion of the credit union. Courtesy Pay of an inadvertent overdraft is not guaranteed and is paid at the Credit Union's sole discretion.

4 There is a 5 per day limit on the number of times we will charge this fee.

5 Good standing means that you and any of your joint owners:

  • Pay your negative balances timely (within 10 days)
  • Make your loan payments on time
  • Have not caused a loss to the Credit Union
  • Do not repeatedly overdraw your account