Standard Overdraft Protection
Your checking account can be linked to your other Red Canoe accounts for free overdraft protection. If your checking account doesn’t have funds available to cover your transaction, we can automatically transfer from your savings, money market or other Red Canoe account.
Overdraft Line of Credit
Red Canoe also offers overdraft protection from a line of credit for those that qualify. If you do not have funds available in your savings accounts, we can use your line of credit to pay your overdrafts before Courtesy Pay is used. There is no fee to use your overdraft line of credit; however, interest will accrue at your qualifying rate from the time of the transfer until the loan is paid in full.
Standard Courtesy Pay
All Red Canoe members enjoy Standard Courtesy Pay as an added layer of protection on their accounts. This service keeps you covered up to $800.00 for paper check and ACH payments if you unintentionally spend more than you have in your account. (You must opt-in for Debit Courtesy Pay to have this coverage extended to your qualifying ATM or Debit Card.) There is no monthly fee to have Courtesy Pay, but you will be charged a per-item fee each time it is used.*
Extend the protection of Courtesy Pay to your debit card purchases by opting in to our Debit Courtesy Pay. Like Standard Courtesy Pay, Debit Coutesy Pay allows for your debit transactions to be processed if you unintentionally make a purchase that exceeds the funds you have in your combined accounts. Rather than having your transaction denied, Debit Courtesy Pay allows for your transaciton to be processed so you can avoid the embarrassment and inconvenience of of having your card declined.*
*There is no limit on the amount of non-sufficient fund (NSF) fees that may be charged on any one day. There is an NSF fee for each overdraft check or item we pay or return as set forth on the Rate and Fee Schedule found in the Membership and Account Agreement.