|
Worry Free
|
|
Worry Free is a new service that allows us to pay an item presented against your checking account even if it causes the account to become overdrawn.
Worry Free may provide certain accountholders in "good standing" with the ability to overdraw their checking account up to $500. The Worry Free limit includes any overdraft fees assessed.
If the account has been open at least 30 days and maintained in good standing, defined as A) Making regular deposits sufficient to cover transactions; B) Bringing the account to a positive balance at least once every thirty days or less, and; C) There are no legal orders outstanding on your account, we may, at our sole discretion, pay overdrafts up to the limits mentioned above, including our normal Non-Sufficient Funds or Worry Free charge(s). Whether we pay or return an item, your account will be assessed a fee, either as a Worry Free charge or a Non-Sufficient Funds charge but you will not be charged both fees. Our current charge per item is $25 which may be changed with prior notice to you.
Worry Free offers additional flexibility and convenience in managing accountholder funds, and provides peace of mind knowing that items may be paid up to the authorized overdraft limit. Using Worry Free may be more costly than other overdraft payment options we may offer. Please speak to a representative to see if you qualify. |
| This non-contractual courtesy of paying overdrafts requires no accountholder action. No additional agreements need to be signed, and it costs nothing unless the privilege is used - by initiating checks, electronic funds transfers, or other payment or withdrawal requests for more than is on deposit in the account. If you maintain the account in good standing and have need for this "courtesy", we may, at our sole discretion, pay the item(s) up to the authorized limit, and we will charge the account our normal Non Sufficient Funds or Worry Free charge for each item that overdraws the account. We will send you a notice each time an overdraft occurs.
Although you are not charged for using Worry Free unless you have an overdraft, you may opt-out of Worry Free at any time. If you do not want us to pay your overdrafts, you must tell us (“opt-out”). If you receive a direct deposit social security or other federal benefit check, you must opt-out if you do not want us to apply those funds to repay an overdraft.
Worry Free allows ZIA Credit Union to provide a higher level of service to our accountholders by helping to protect your account and reputation when an inadvertent overdraft occurs.
Additional information is found in your account agreement. If you have further questions, do not hesitate to call us at 505-662-4671.
Last Edited 06/2005 |
|
|
 |
|
|
|
