Your Available Balance and Debit Card Transactions. Everyday debit card transactions are processed against your account at two different times: first, when the transaction is authorized, and again when the transaction actually settles to your account, usually days later. This delay between the time a particular transaction is authorized and when it actually settles to your account is solely within the control of the merchant and its processor. The Credit Union has no control with respect to the time period that elapses between the time a merchant seeks authorization and finally submits the transaction for settlement. For debit card transactions, we use your Available Balance at the time a transaction is authorized and your Ledger Balance when the transaction settles to your account to determine if each specific transaction will overdraw your account and whether a fee will be assessed. It is important to remember that your Available Balance may not reflect all of your transactions. When the Credit Union authorizes an everyday debit transaction, the amount of the transaction is subject to a preauthorization hold. This means that the amount of the transaction is subtracted from your Ledger Balance. It is important to understand that even if you have sufficient available funds in your account at the time the transaction is authorized, it is possible that the settlement of the transaction may result in an overdraft to your account, and the incurring of a fee. The two most common scenarios are as follows: • Example 1: Purchase transactions where the final amount is initially unknown. The most common examples of a purchase transaction where the final amount is initially unknown are gas station purchases, restaurant charges, hotel and car reservations. In such cases the transaction will be communicated to the Credit Union for authorization in one amount, but when the transaction actually settles your Account it does so for a greater amount. For example, if you use your debit card to pay at the pump for a gasoline purchase, you typically must utilize your debit card before operating the pump. The Credit Union may receive an authorization request in the amount of $15.00. At the time of the authorization request, both the Available Balance and the Ledger Balance in your account is $30.00. Because your Available Balance is sufficient to cover the preauthorization request, the Credit Union approves the authorization request, and the Available Balance in your account is reduced to $15.00, while your Ledger Balance remain...
Your Available Balance and Debit Card Transactions. Debit card transactions are processed against your account at two different times: first, when the transaction is authorized, and again when the transaction actually settles to your account, usually days later. This delay between the time a particular transaction is authorized and when it actually settles to your account is solely within the control of the merchant and its processor. The Credit
Your Available Balance and Debit Card Transactions. For debit card transactions, we use your available balance at the time a transaction is authorized to determine if each specific transaction will overdraw your account and whether a fee will be assessed. Your available balance may not reflect all of your debit card transactions. For debit card transactions involving merchant authorization holds, we look at the available balance at the time a transaction is authorized to determine whether the transaction will result in an overdraft and a fee. If your available balance is insufficient to pay the preauthorization amount requested by a merchant, and you have not opted into Courtesy Pay for payment of everyday debit transactions, we will decline the request. If your available balance is sufficient to cover a merchant’s authorization request, the authorization request will be approved and an authorization hold will be placed on your account in the amount of the merchant’s authorization request. If your available balance is insufficient to cover a merchant’s authorization request, and you have opted in to Courtesy Pay for everyday debit transactions, we may choose to approve the authorization request. In the instance where your available balance was insufficient to cover a merchant’s authorization request at the time of authorization without causing the account to have a negative balance, and we choose to authorize the transaction using Courtesy Pay, we will charge a Courtesy Pay Fee on that transaction when it posts, regardless of the available balance in the account at the time of posting. Note that transactions authorized with a merchant as recurring debit card transactions may be covered by Courtesy Pay regardless of whether you have opted into Courtesy Pay for the payment of everyday debit card transactions. The following examples illustrate how this works if you have opted in for Courtesy Pay with respect to everyday debit transactions: • Assume your actual and available balances are both $50, and you use your debit card at a restaurant for $20. If the restaurant requests preauthorization in the amount of $20, an authorization hold is placed on $20 in your account, so your available balance is only $30, while your actual balance would remain $50. Before the restaurant charge is sent to us for payment, a check that you wrote for $40 posts to your account. Because your available balance is only $30, your account will be overdrawn by $10, even though your actual balance is $50. In this case, if we pay the $40 ...
Your Available Balance and Debit Card Transactions. For debit card transactions, we use your available balance at the time a transaction is authorized to determine if each specific transaction will overdraw your account and whether a fee will be assessed. Your available balance may not reflect all of your debit card transactions. For debit card transactions involving merchant authorization holds, we look at the available balance at the time a transaction is authorized to determine whether the transaction will result in an overdraft. If your available balance is sufficient to cover a merchant’s authorization request, the authorization request will be approved, and an authorization hold will be placed on your account in the amount of the merchant’s authorization request. If your available balance is insufficient to pay the preauthorization amount requested by a merchant, we will decline the request.
Your Available Balance and Debit Card Transactions. Everyday debit card transactions are processed against your account at two different times: first, when the transaction is authorized, and again when the transaction actually settles to your account, usually days later. This delay between the time a particular transaction is authorized and when it actually settles to your account is solely within the control of the merchant and its processor. The Credit Union has no control with respect to the time period that elapses between the time a merchant seeks authorization and finally submits the transaction for settlement. • Example 1: Purchase transactions where the final amount is initially unknown. The most common examples of a purchase transaction where the final amount is initially unknown are gas station purchases, restaurant charges, hotel and car reservations. In such cases the transaction will be communicated to the Credit Union for authorization in one amount, but when the transaction actually settles your Account it does so for a greater amount. For example, if you use your debit card to pay at the pump for • Example 2: Purchase transactions where intervening items paid between authorization and settlement result in the overdrafting of your Account. Assume the same gas station scenario as described in Example 1, except that you purchase gasoline totaling just
