Florida Commerce now offers the lowest Courtesy Pay Fees in town!
As part of our mission to help our members live a more financially healthy lifestyle, we've lowered our courtesy pay fees from $24 to $12 each. As long as you bring your account back into the positive within 24 hours, that's all you pay per item!
Changes to Overdraft Protection
Florida Commerce is making ground-breaking changes to the Overdraft Protection program that will set us apart from our competitors. You can expect to see the following changes with the new program:
- Reduction in overdraft fees from the current fee of $24 to $12
- Overdraft limit published on your statement to help you better manage your finances
- Increase in NSF fees from $24 to $29 per item returned
- Email and cell phone notifications if your account goes into the negative
- Bring your account positive by the next business day and you'll incur no additional fees.
- If your account remains negative, a daily fee of $13.99 (per account, not per item) will be assessed until the balance is brought positive or the 15th day, which ever occurs first.
These new changes have been put in place to encourage swift action to rectify the negative balance. To see how different situations will be affected under the new structure, review the chart below:
| Member Profile | Number of OD/NSF items | Charges under the old fee schedule | Charges under the new structure |
| Member who misses payday by a day or two | 3 OD items 2 days before payday | 3 x $24 = $72 |
3 x $12 = 36 1 Consecutive day charge = $13.99 Total fees = $49.99 |
| Moderate User of Overdraft Protection (OD) | 7 OD items 5 days before payday | 7 x $24 = $168 |
7 x $12 = $84 4 Consecutive day charges = $55.96 Total fees = $139.96 |
| Heavy User of Overdraft Protection (OD) | 10 OD items and 5 NSF items throughout a 20 day negative period | 15 x $24 = $360 |
10 Courtesy Pay x $12 = $120 5 NSF x $29 = $145 14 Consecutive day charges =$195.86 Total fees = $460.86 |
We provide the following tools to assist you in managing your finances:
- Email alerts - Notify you of certain transactions or events happening on your account.
- iBranch! - Manage your money through iBranch! Online banking. You can monitor accounts, transfer funds, pay bills, and more...and best of all, it's FREE.
- TeliBranch! - This telephone access system allows you one more way to receive fast, convenient account information. TeliBranch! is available 24-hours-a-day, seven days a week. (850) 922-7282
- Direct Deposit - If your employer offers direct deposit - sign up! You'll save on trips to the credit union, never have a late deposit, and eliminate the chance of your check being lost or stolen.
- Bill Pay - Pay anyone, anywhere in the world. Schedule payments and set reminders to pay bills.
There are other minor changes to your Account Disclosures, so you'll want to read the disclosures carefully.You can do so by clicking here .
These changes were effective August 25, 2009. If you have any questions, regarding the information included in this notice or disclosures please contact us at (850) 488.0035 or visit us at any of our seven convenient locations.
