How does Privilege Pay work?
Privilege Pay is a completely free service unless it’s used! You can choose to opt your account out of Privilege Pay at any time. Once you qualify for Privilege Pay, Casebine will let you overdraw your account up to your Privilege Pay limit. We will always first move money from a linked Primary Share account before utilizing Privilege Pay.
Privilege Pay can help you avoid extra fees from merchants when transactions are returned.**
Opt-In for Privilege Pay coverage on Everyday Debit Card Purchases
Completely Remove or Re-Enable Privilege Pay Coverage
Three Privilege Pay levels available based on Member qualification.
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 different ways
We have a standard discretionary Privilege Pay service that is provided with your account after meeting specific qualification criteria (listed above).
We also offer overdraft protection plans, such as transfer from your Primary Share account or Overdraft Line of Credit. These may be less expensive than our Privilege Pay service. Overdraft protection from your Primary Share account is automatically established when opening a checking account. To learn more, ask us about these options.
What does CCCU’s Privilege Pay service cover?
With CCCU Privilege Pay, we do authorize and pay overdrafts for the following types of transactions:
- Checks and other transactions made using your checking account number
- Recurring automatic bill payments authorized against your debit card
CCCU pays 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 / returned and may be subject to the NSF fee.
We will not authorize and pay overdrafts for the following types of transactions:
- Everyday debit card transactions
How much does it cost?
- We will charge a fee for Privilege Pay equal to the amount used, up to $30.
- There is no limit on the total fees we can charge you for overdrawing your account, however there is a $140 daily limit.
- There is NO fee to keep the Privilege Pay service on your account.
- There is NO fee if you never use Privilege Pay.
How to request CCCU Privilege Pay service on my checking account?
All checking accounts automatically have the Privilege Pay service available. You may opt to turn of the Privilege Pay service at any time.
To opt in or out for Privilege Pay, use one of the following methods:
- Mail the completed form below to Casebine CCU, 485 West Burlington Ave, Burlington, IA 52601
- Visit our website at casebine.com/services/odp
- Stop into our branch.
You may opt in or out of CCCU Privilege Pay at any time. For questions, call (800) 242-3746
Fee subject to change. Please see our fee schedule.
*Casebine does not guarantee overdraft protection in all scenarios. Overdrafts are paid at the credit union’s sole discretion. Overdraft transfers are made from the member’s Primary Share (S1) account. Please see the fee schedule for the Overdraft Transfer Fee. Items not covered are subject to the NSF fee. Please see fee schedule for the NSF Fee.
**Privilege Pay is a discretionary service, we do not guarantee that we will pay any type of transaction. For example, we typically do not pay overdrafts if your account is not in good standing. A fee will be charged each time we pay an overdraft created by checks and other transactions made using your checking account number, BillPayer transactions and ACH withdrawals. Please see the fee schedule for the latest Privilege Pay Fee. We will not pay overdrafts for everyday debit card or ATM transactions unless you Opt-in and authorize us to do so.
***Subject to credit approval. CLICK HERE for Overdraft Line of Credit Terms & Conditions.