Centra Blog

Increasing your Financial IQ

Updates to our Courtesy Pay and overdraft service charges

We’re always looking for ways to create a valuable banking experience for our Members and regularly look at areas where we can improve. Recently, we’ve identified areas of improvement for our Courtesy Pay and overdraft service charges. Effective October 1, 2022, the following changes were made to these service charges to better serve you:

Courtesy Pay limits

Life can throw unplanned expenses at you in the blink of an eye. We understand that not everyone may have the means to cover those costs immediately. To help our Members be better prepared, Centra increased our Courtesy Pay limits from $500 to a range of $700 up to $1000. Limits are subject to change based on Membership status, account type, and banking relationship. Now, the more you bank with Centra, the more you could be covered for unexpected overdrafts!

How do I know how much I’m covered?

As mentioned above, your Cashback Checking Tier determines your Courtesy Pay limit.

  • Tier One: $700
  • Tier Two: $850
  • Tier Three: $1,000

You can find your tier a few different ways:

  • Your default account name on your Member Loyalty Account (MLA) in digital banking.
  • Your monthly account statements.
  • Your monthly cashback rewards email.

High Interest Checking and special titled accounts have a Courtesy Pay limit of $700. Business accounts have a limit of $1,000.

Service charges

In addition, Centra’s non-sufficient funds service charge decreased from $30 to $29. Centra also added a daily cap of three ($87) to the non-sufficient funds service charge. For all accounts, you will not be charged a per-item overdraft service charge for transactions that are $10 or less. 

For more information about Courtesy Pay and overdraft protection options, click here.