Overdraft Services Changes
Coastal is making changes to our overdraft services and Non-Sufficient Funds (NSF) fee, which will have the benefit of reducing member fees, and will enable us to implement required changes more easily in the future. Effective February 19, 2025, our BounceGuard and BounceGuard Plus services will be replaced with Courtesy Pay and Courtesy Pay Plus, an industry-standard solution.
Notable changes include:
- Reduction of both the Courtesy Pay fee and the NSF fee
- Fees will be assessed in real time.
- A maximum of two cumulative fees per day, per account. You can be charged up to 2 Courtesy Pay fees, 2 NSFs, or 1 of each. Courtesy Pay fees are capped in real time. Excess NSF fees will be refunded by the end of day.
- Introduction of fee tiers to exempt small transactions. This replaces our Overdraft Forgiveness program.
Your existing BounceGuard/BounceGuard Plus preferences will convert to Courtesy Pay/Courtesy Pay Plus. Members can change their elections at any time in person, over the phone, or via secure messaging in online banking
Non-Sufficient Funds / Overdrawn
Non-Sufficient Funds / Overdrawn
| Description | Fee |
|---|---|
| Courtesy Pay1 (Applies to overdrafts created by checks and automated ACH debits) |
$25.00/ item*; max of 2 per day3 |
| Courtesy Pay Plus1 (Applies to overdrafts created by checks, automated ACH debits, plus ATM and debit card transactions) |
$25.00/ item*; max of 2 per day3 |
| Non-Sufficient Funds Fee1 | $25.00/ item; max of 2 per day2 |
*The transaction affects the negative balance by a variance of -$25.01 or more, and will be assessed a Courtesy Pay/Courtesy Pay Plus fee. Transactions that affect the negative balance by a variance of -$25.00 or less will not be assessed a fee.
1. To avoid Non-Sufficient Funds or Courtesy Pay/Courtesy Pay Plus fees, a savings account, money market account, and an overdraft line of credit can be used as protection to your checking account. You can also set up alerts, within Digital Banking, on your checking account to monitor activity. Contact us to get started.
2. A $25.00 fee will be charged each time an item is presented for payment and there are insufficient funds to cover it, causing the item to not be paid.
3. Coverage Limit: Courtesy Pay/Courtesy Pay Plus services are limited to a maximum of one (1) account per unique Social Security Numbers (SSN) or unique Employer Identification Number (EIN), not account numbers. Access to both services is subject to approval. All negative shares must be paid within 40 days or your account will be closed. Courtesy Pay limit is $500.00, which includes any fees charged. Whether your overdrafts will be paid is discretionary, and we reserve the right not to pay. If we do not authorize and pay an overdraft, your transaction will be denied. There is no limit on the total fees we can charge you for overdrawing your account. Any transaction that affects your negative balance by $25.01 or more will be charged a fee of $25.00 per overdraft, a maximum of two $25.00 fees charged on a given day. These charges apply to all checks and automated ACH transactions, as well as debit and ATM transactions on checking accounts that have Courtesy Pay Plus overdraft service.