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We know that life is busy and unpredictable - simple mistakes and unexpected expenses happen to all of us! That's why we're happy to offer Privilege Pay as a service to our members.
Privilege Pay protects you against the embarrassment and expense of having your checks returned unpaid due to an overdraft of your account. Instead of automatically returning a check for insufficient funds, we may pay your overdrafts up to a pre-determined limit.
There is no annual fee for having this privilege on your account! You will be charged only if Privilege Pay is used to cover an overdraft. You will pay the same fee that would be charged for an overdraft/NSF check, but, with Privilege Pay, your check will clear! This means you won't have to pay an additional fee from the merchant or suffer the embarrassment of a returned check.
If you already have overdraft protection from a savings account and/or line of credit, those will be used first to protect against overdraft fees. Privilege Pay acts as your last line of defense against overdrawing your checking account.
Privilege Pay covers checks, electronic transactions, online bill payments and debit card purchases at retail merchants. A fee will be charged for each transaction that results in an overdraft.
If your account qualifies for Privilege Pay, you will be notified by mail.
If you have any questions, please refer to our Frequently Asked Questions or phone the Call Center at 434/528-9016 or 800/335-0069.
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