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Courtesy Pay

Courtesy Pay provides a safety net up to a pre-determined amount under certain conditions.

The basic features of this program include:

  • Automatic discretionary overdraft service for checks and other transactions made using your checking account number or automatic bill payment and recurring debit card payments.
  • At your request, we may authorize and pay overdrafts created by everyday debit or ATM transactions.
  • You may also request to opt out of Courtesy Pay altogether at any time.
  • An overdraft fee of up to $32.50 per item may be may be charged for covering each overdraft that results in a negative balance at the end of the day.
  • A maximum of 6 fees per account per day will be assessed.
  • Courtesy Pay limits vary by type of checking account, relationship with the Merrimack and account standing.

Overdrafts may be created by check, ACH, online banking transactions, phone transactions or other electronic means. Recurring debit card transactions (payments that are set up to pay automatically) such as automatic draft from your health club or insurance company may continue to be covered by your overdraft service. Once an overdraft has occurred you are required to bring your account to a positive balance within 30 days. Whether your overdrafts will be paid is discretionary and we reserve the right not to pay. We do not typically pay overdrafts if your account is not in good standing.

How do the overdraft programs work together?

The overdraft options are activated in the following order, as applicable, to cover an overdraft on your checking account:

  1. The available balance in your enrolled Transfer Account Protection linked account is used first.
  2. CheckReserve Overdraft Line of Credit up to your pre-approved amount is used second.
  3. When each of these is exhausted, or non-applicable, Courtesy Pay will be activated.

How does Courtesy Pay work?*

As long as you maintain your account in "good standing," we may approve your overdraft items within your current available Courtesy Pay limit as a courtesy. There is no additional cost associated with this privilege unless you use it. You will be charged our overdraft item fee of up to $32.50 for each overdrawn item created by a traditional paper-based check, a teller withdrawal, an automatic payment (ACH) transaction or a recurring debit card payment. We will also pay ATM and one-time debit card transactions up to your daily Courtesy Pay limit if you have asked us to do so by "Opting In." The Merrimack will charge no more than 6 overdraft item fees per account on any given business day.

For Courtesy Pay consideration, your account is in "good standing" if you (1) make sufficient deposits to bring your account to a positive end-of-day balance at least once every 30 calendar days (including the payment of all bank fees and charges); (2) avoid excessive overdrafts that would suggest the use of Courtesy Pay as a continuing line of credit; and (3) there are no legal orders, levies or liens against your account.

Please note that the amount of the overdraft item plus our overdraft item fee of up to $32.50 for each item will be deducted from your Courtesy Pay limit, if an item is paid. Overdrafts above and beyond your established Courtesy Pay limit may result in checks or other items being returned to the payee. If an item is returned, a returned item fee of up to $32.50 will be deducted from your account. No interest will be charged on the overdraft balance.

* Please refer to the Courtesy Pay Customer Overdraft Policy for additional details.

What does Courtesy Pay cost?

There is no additional cost associated with this privilege unless you use it. You will be charged our overdraft item fee of up to $32.50 for each overdrawn item created by a traditional paper-based check, a teller withdrawal, an automatic payment (ACH) transaction, or a recurring debit card payment. Also, if you have requested us to do so, we may authorize and cover ATM transfers or withdrawals and everyday debit card purchases. The Merrimack will charge no more than 6 overdraft item fees per account on any given business day.

For example, three paid items in one day will result in up to $97.50 in overdraft item fees. To help you manage your account, the total fees you have paid for items (both paid and returned) during the current month and for the year-to-date will be reflected on your monthly statement.

What is my Courtesy Pay limit?

Locate your account type below and make note of the corresponding limit. If you have multiple accounts for your household, you may have a limit on all eligible accounts.

Just Checking $300
Senior Checking $500
GenGold Checking $500
Mobile Checking $500
Bank at Work Checking $500
Premium Plus Checking $750
Personal Money Market $750

How quickly must I repay my Courtesy Pay?

You should make every attempt to bring your account to a positive end-of-day balance as soon as possible, and must do so within 30 calendar days. If you are not able to do so, you will receive a letter from the Merrimack informing you that your Courtesy Pay limit has been suspended and additional items will be returned. Unless we advise you differently or you request this service to be removed from your account, your limit will be made available to cover overdrafts again one business day after you bring your account to a positive end-of-day balance.

What are some of the ways I can access my Courtesy Pay limit? Will my limit be reflected in the balance I receive?

The chart below shows the different ways you can access your Courtesy Pay limit and indicates whether or not this limit will be reflected in the balance provided.

Access Points Is my Courtesy Pay available? Does the balance provided reflect my Courtesy Pay limit?
Teller Yes No
Writing a Check Yes N/A
MasterCard® Debit Card (recurring) Yes N/A
MasterCard® Debit Card (everyday) No** N/A
ATM withdrawal No** No
ACH-Auto Debit Yes N/A
NetBanking Yes No
Bill Pay Yes N/A
Mobile Banking Yes No
Phone Banking Yes No

** Courtesy Pay service will be made available for ATM or everyday debit card transactions upon your request. Call (800) 922-6872, visit mcsbnh.com or visit one of our branches to arrange for your ATM and debit card coverage.

What if I am having trouble repaying my Courtesy Pay or use it frequently?

Please contact us at (800) 922-6872 if: (1) you do not believe you will be able to bring your account to a positive end-of-day balance within the required time period; (2) find that you are using Courtesy Pay more often than you intend; or (3) don't understand why your account becomes overdrawn. We would like to discuss your situation with you.

Following regulatory guidance, we will contact you if you are paying multiple overdraft fees (i.e., more than six fees in a rolling 12-month period), to discuss possible alternatives to Courtesy Pay that may better meet your short term credit needs. In the event you ask us to stop contacting you because you have determined Courtesy Pay is appropriate for your needs, we will honor your wishes. However, if we identify that the number and frequency of overdrafts increases materially for an extended period of time at some point after that, we may contact you again to ensure Courtesy Pay is still the most appropriate option available to you for covering your short term credit needs.

What if I go beyond my Courtesy Pay limit?

Overdrafts above and beyond your established Courtesy Pay limit may result in checks or other items being returned to the payee. The returned item fee of up to $32.50 will be charged per item and assessed to your account. An Overdraft/Non-sufficient Funds notice will be sent to notify you of items paid and/or returned.

How do I know when I use the Courtesy Pay limit?

An Overdraft/Non-sufficient Funds notice will be sent to notify you of items paid and/or returned, including fees. You will need to subtract the total fees when balancing your checkbook.

How soon can I use my Courtesy Pay?

If you are a new customer, you may be able to use the overdraft service the next business day after your account is opened.

What are some other ways I can cover overdrafts at the Merrimack?

The best way to avoid overdrafts and fees is to keep track of your account balance by entering all checks, debit card purchases and ATM withdrawals in your check register, reconcile your account regularly, and manage your finances responsibly. However, if a mistake occurs, the Merrimack offers several ways to cover overdrafts.

Ways to Cover Overdrafts at the Merrimack Example of Associated Rates and Fees*
Good account management $0
Link to other Merrimack account with Transfer Account Protection $10 transfer fee*
CheckReserve Line of Credit 15% APR / $30 annual fee*
Courtesy Pay Overdraft item fee of up to $32.50 for each item

* This information is effective as of May 2015 and is provided as examples. Please ask us about our current specific products, rates and fees. Annual Percentage Rate subject to change without notice.

What if I do not want to have Courtesy Pay on my account?

If you would like to have this service removed from your account, please call (800) 922-6872.

* Please refer to the Courtesy Pay Customer Overdraft Policy for additional details.

Personal Banking