FIGFCU Privilege Pay | Extra Protection For Your Checking Account
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Farmers Insurance Federal Credit Union

Routing Number: 322077795

Privilege Pay For One-Time Debit Charges And ATM Charges

Optional Opt-In Form

If you sign up for Privilege Pay with Farmers Insurance Federal Credit Union (“Credit Union”), we may approve everyday debit card purchases when you do not have sufficient available funds in your account, such as times when you inadvertently miscalculate your available balance, when funds from a recent deposit are not yet available for use, when you cannot make a deposit until later that same business day, or there are other debit card or ATM transactions that are pending but have not yet paid out.

There is no fee to include Privilege Pay protection on eligible accounts. A Privilege Pay fee is incurred only when you use the protection.

Once you opt-in you are always in control. If at any time you no longer wish to protect your Debit Card/ATM purchases with Privilege Pay, you can always cancel the coverage with no fees and no strings attached.

What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough funds in your account to cover a transaction, but we pay it anyway. By saying enough funds we mean “enough available funds,” which does not include funds in your account that are owed on pending transactions that have been approved but not yet paid, or funds from checks that have been deposited but are still on hold and are uncollected. We can cover your overdrafts in two different ways:

  1. We have standard overdraft practices that come with your qualified checking accounts.
  2. We also offer alternative overdraft protection plans, such as a link to a savings account, credit card or line of credit accounts, which may be less expensive than our standard overdraft practices. To learn more, ask us about these plans.

This notice explains our standard overdraft practices.

What are the standard overdraft practices that come with my account?
The Credit Union may authorize and pay overdrafts for the following types of transactions for qualified accounts under Courtesy Pay:

  • Checks and other transactions made using your checking account number and
  • Automatic bill payments.

We will not authorize and pay overdrafts for the following types of transactions unless you ask us to do so:

  • ATM Transactions or
  • Everyday debit card 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.

What fees will I be charged if we pay my overdraft?
Under our standard overdraft practices:

  • We will charge you a fee of up to $23.00 each time we pay an overdraft, with a daily maximum of $92.00 charged for Privilege Pay.
  • Your account must be brought current with a positive balance within calendar 15 days of Privilege Pay Overdraft use or your account will be subject to closure.
  • Even with Privilege Pay your account cannot be more than $200 overdrawn, or if you have direct deposit into your qualified checking account no more than $1,000 can be overdrawn, including fees and charges.
  • Privilege Pay Overdraft does not guarantee payment.
  • Checks and ACH items may still be paid by the Credit Union under the Courtesy Pay program, without your opting into Privilege Pay on ATM and everyday debit charges.
  • In order to be eligible to use Privilege Pay you cannot be delinquent or in breach of any Credit Union agreement or policy, nor can your account be subject to any legal order.

What if I want the Credit Union to authorize and pay overdrafts on my ATM and everyday debit card transactions through the Credit Union’s Privilege Pay?
If you also want us to authorize and pay overdrafts on ATM and everyday debit card transactions, call 800.877.2345, or complete the form below. 

Terms and Conditions

  • Members must opt-in to use Privilege Pay funds on one time (non-recurring) debit charges and ATM transactions.
  • Checks and automatic payments (ACH) may be cleared through Privilege Pay, if funds are not available in a checking account without a member opting in to Privilege Pay on one time debit (non-recurring) charges or ATM transactions. (Checking accounts that “sweep” to a third party, such as insurance agent checking accounts for insured’s premiums are not eligible for Privilege Pay.)
  • There is a $23 Privilege Pay fee assessed each time a transaction uses Privilege Pay; however, the maximum Privilege Pay fees that will be assessed to a checking account is $92.00 per day.
  • Being eligible to use Privilege Pay does not guarantee payment.
  • Other types of overdraft protection are also available.  Members can request that the Credit Union link their Farmers Insurance Federal Credit Union (“Credit Union”) checking account(s) to their other Credit Union checking and savings accounts to help avoid the need to use Privilege Pay. There is no charge for this overdraft protection alternative. Members can also link their checking account(s) to their Credit Union lines of credit and/or Credit Union credit card accounts.  Interest will accrue at the contract rate on advances made on lines of credit.  There is a cash advance fee on transfers made from linked Credit Union credit card accounts.  If the total amount owed on credit card accounts is not paid in full on a timely basis for the month the advanced is made, an advance to a credit card will accrue interest at the contract rate. For the Overdraft Protection form that will enable members to request that the Credit Union link accounts to their checking accounts, please click here.
  • Members opting-in to Privilege Pay on their one time (non-recurring) debit card charges and ATM transactions will have the same account terms, conditions, and features, (including costs and account fees) as those account holders who do not opt-in.
  • Members who have Direct Deposit to their Credit Union checking accounts by ACH of at least $1000 per month are eligible for Privilege Pay up to $1,000 in transactions and service charges. Others who do not have the qualifying Direct Deposit are eligible for $200.00 in Privilege Pay transactions and service charges. 
  • The Credit Union will not charge Overdraft Fees for any overdrafts paid on ATM and one-time debit card transactions for members who do not opt-in.
  • Members who use Privilege Pay must have a positive balance in their checking account within 15 days of using Privilege Pay. If any member’s checking accounts still has a negative balance after 15 days, the Credit Union will suspend the use of Privilege Pay until the member has a positive balance in the member’s checking account.
  • Members may opt-out at any time by contacting us at 800.877.2345 or contacting us by email msc@figfcu.org, or mail, 2255 N. Ontario, Suite 320, Burbank, CA 91504. In order to be opted-out the Credit Union must actually receive the Member’s request to opt-out and have sent a confirmation that the Credit Union has received said request. 
  • See Opt-In form above for additional terms.