New regulations that affect overdraft protection are now in effect. It's important to understand your options, since your choices will affect the way we handle your transactions.

Effective August 15, 2010, members who want Courtesy Pay available for their everyday debit card transactions must opt in to the service. Courtesy Pay allows us to cover your transactions even when your checking account runs a little short. Why would you want this coverage in place for your debit card? Here are a couple of examples:

Most members who use Courtesy Pay don't plan to — they make a simple mistake in their checkbook, or they run a little short before payday. Courtesy Pay gives you the flexibility you need to manage your money as well as peace of mind when you face unusual or unforeseen circumstances.

It is important to note that Courtesy Pay does not replace your existing overdraft protection arrangements. Every Metro checking account is set up for free overdraft transfers from savings, and many members also have an overdraft line of credit. If funds in your checking account are not sufficient to cover an item, we will look to your savings and/or line of credit first. Courtesy Pay will only be used once these other sources of funds have been exhausted.

Fees eliminated for minor mistakes
It doesn't cost anything to have Courtesy Pay coverage in place 'just in case' — you'll only be charged when and if you use it. And we will waive the Courtesy Pay fee for any transaction that overdraws your account by less than $10. So you don't have to worry that your morning cup of coffee will cost you more than you bargained for. The Courtesy Pay fee for transactions that overdraw your account by $10 or more is $25.

If you have a checking account and Debit MasterCard^®, you should have received a mailing with more information and an opt-in form. If you haven't returned it yet, it's not too late to do so. If you did not receive the mailing or misplaced your form, click here.