We understand that even with the best financial plans, unexpected things happen in life that may cause you to overdraw your checking account. Whether it is an honest mistake in your checkbook, or an unforeseen circumstance that leaves you “a little short” until pay day, Ent has an overdraft protection option to meet your needs:

• Overdraft Protection

And/Or

• Courtesy Pay

Overdraft Protection

If you have ever overdrawn your checking account, you've experienced the embarrassment, inconvenience and expense of bounced checks. You can protect yourself and your credit rating by establishing Overdraft Protection on your checking account(s).

Contact us to designate a Savings, Money Market Savings or a Line of Credit account as an overdraft source on your Checking Account(s). In the event you overdraw your checking account, the overdrawn amount will be transferred from the account you have designated as your overdraft source.

• There are no fees for Overdraft transfers.
• Overdraft transfers from a Line of Credit are made in increments of $100.
• Overdraft transfers from Savings or Money Market Savings accounts are limited to six (6) per month.

Courtesy Pay

New Overdraft Protection (Courtesy Pay) regulatory changes will go into effect after August 15, 2010. Due to new government regulations, you must “opt-in” to continue receiving Courtesy Pay coverage on your ATM or everyday Debit Card transactions after August 15, 2010. You may opt-in by calling (719) 574-1100 or 800-525-9623, or visiting any Ent Service Center.

If you decide not to “opt-in” to Overdraft Protection (Courtesy Pay) for your ATM or everyday Debit Card transactions, ATM/Debit Card transactions that could overdraw your account will be declined after August 15, 2010.

Courtesy Pay can provide an added layer of protection against accidentally writing checks for more than you currently have in your account. Ent’s Courtesy Pay may cover checks or debit items against your individual checking account(s), even if it causes the account to become overdrawn up to $300, for one low fee per covered item.

Courtesy Pay can save you the embarrassment of an inadvertent overdraft, and let you avoid additional charges from a merchant.

How does Courtesy Pay work?

Overdrafts on your checking account, up to a limit of $300 [including the amount of the overdrawn item(s) and the Courtesy Pay fee(s)] may be honored by Ent. A $25 fee will be assessed for each item that draws your account negative. You then have up to 30 days to bring your account current, either through a direct deposit, transfer of funds or a deposit at one of our service center locations.

Note: As an added courtesy, Ent will only assess the $25 fee if the item draws your account more than $10 negative. Example: You write a check for $35 but only have $30 in your account. With Courtesy Pay, that item would be paid – without incurring a Courtesy Pay fee – because it only takes your account $5 negative.

We want you to know: Using Courtesy Pay as the primary means of protecting your account from becoming overdrawn is the most expensive form of overdraft protection. Members who anticipate overdrawing their account on a recurring basis are encouraged to apply for an overdraft line of credit loan with higher dollar limits or for a secured loan based on standard credit qualifications.

What if I already have Overdraft Protection?

If you have already established other overdraft protection methods, such as a line of credit or an automatic transfer from another Ent account, Ent will look to pay any overdraft by those other methods first before paying your overdraft with Courtesy Pay.

Do I have to apply for this service?

This program is available on individual checking accounts that have less than 12 non-sufficient fund (NSF) items per calendar year, have no loans that are five days or more past due, and have less than 10 paid Courtesy Pay items for the current month. Courtesy Pay is discontinued for the month, if the checking account is not brought positive within 5 days. This is not a line of credit and must be repaid within 30 days of the account being overdrawn.

After August 15, 2010, we will not authorize and pay overdrafts for ATM Transactions and everyday Debit Card transactions unless you opt-in to Courtesy Pay to pay these transactions. We pay 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. Ent reserves the right to refuse this service even if we have accommodated you with Courtesy Pay in the past and your account is in good standing.

Learn more about this new regulatory change. Additional information can be found on the Federal Reserve website.

Courtesy Pay will continue as before regarding the processing of checks and automatic bill payments. The regulatory change does not impact processing of these transactions. Courtesy Pay is not available on Business or Corporate checking accounts.

For more information on Courtesy Pay, including whether your account is currently eligible for this service, please visit an Ent Service Center or contact us at (719) 574-1100.