Privilege Pay is a form of overdraft protection that may cover insufficient funds for transactions on your checking account. Paying the overdraft will save additional charges from the merchant collection companies, as well as an insufficient funds fee from UNI Credit Union. For complete information about Privilege Pay, please read our “FAQ Document“. However, here are a few standard questions you may want to know:
|1) Is there a charge for Privilege Pay?
There is a standard Privilege Pay fee of $30 per item when you overdraw your checking account. The advantage is that you will avoid having to pay a fee to the merchant.2) Our standard overdraft practices are:
a. Checks and other transactions made using your checking account number;
a. ATM Transactions;
3) How long do I have to repay the overdrawn amount?
This service is automatically available for checks written on your share draft checking account. However, to activate this service for debit card purchases, you must complete this form.