Courtesy Pay

It can clear at any time. Payments you make can be processed very quickly, so don't make a payment from your checking account unless you already have the money in it (past any hold time) to cover it.

If and when you try use your debit card at the point-of-sale or an ATM and don't have enough money in your checking account to cover the amount, the transaction will be declined and no fee will be assessed. That could leave you standing in line with a cart full of groceries or merchandise and no way to pay for it unless you have another form of payment with you. Equally frustrating and embarrassing would be having your transaction declined at a restaurant, especially if dining out with friends, co-workers or family members.

Holds are placed on cash and check deposits at ATMs, and there may be holds placed on check deposits at branches.

Yes, we will automatically transfer money from your savings to your checking account, and the cost is just $5. If you do not have sufficient funds in your savings account, an overdraft line of credit would be utilized next. If you do not have an overdraft line of credit set up with us, Courtesy Pay is used as your last line of defense.

Courtesy Pay is not a line of credit or an invitation to overdraw your checking account. It is intended for use as an added layer of security if you accidentally overdraw your account. Courtesy Pay is free to set up. If you never overdraw your checking account, you will never be charged anything. Should you overdraw on your account, you will be charged a $28 Courtesy Pay fee for each item we pay against an overdrawn account. If we do not authorize and pay an overdraft, your transaction will be declined, in which case you will still be charged $28 for non-sufficient funds. Overdrafts are paid at our discretion; we do not guarantee that we will always authorize and pay any type of transaction.

Courtesy Pay is non-contractual and requires no applications or signatures to activate coverage for checks you write. If you have a checking account with Arsenal, you are automatically enrolled but can choose to opt out at any time by contacting us. If you would like this coverage extended for other types of transactions (debit card, ATM, automated payments you've set up, etc.), you will need to let us know you want to "opt in."

Once a Courtesy Pay transaction has cleared, you have 30 days to bring your account back up to a positive balance, either through a direct deposit, transfer of funds or a deposit at one of our branches.

Courtesy Pay is free to set up. If you never overdraw your checking account, you will never be charged anything. Should you overdraw on your account, you will be charged a $28 fee for each item we pay against an overdrawn account.

To avoid Courtesy Pay fees, make sure to monitor your account activity. We offer several free services for you to do this, including online and mobile banking. When you receive your monthly account statement from us, be sure reconcile it and update your balance by subtracting any service charges and adding any dividends shown.