There will be an Online Banking Outage from October 30th to November 3rd for both RCCU and Caro site for routine maintenance. All branches will also be closed November 2nd.
Sometimes things happen at the worst possible time and you don’t have the luxury of transferring money or making sure your account has enough funds. We get it. That’s why we offer Overdraft Protection and Courtesy Pay for moments when life doesn’t stop to check how much money is available.
Overdraft protection is designed to prevent overdrafts and help you avoid the fees and other headaches that come with not having the right amount in your account. With overdraft protection, you can transfer funds from another Caro account or line of credit for a low fee. Here’s a breakdown of how it works:
| Type of Protection | Cost Structure |
|---|---|
| Overdraft protection from another Caro account1 | The first two automatic system transfers are free, then $2.00 per transfer |
| Overdraft protection using a Caro line of credit1,2 | The first two automatic system transfers are free, then $2.00 per transfer + interest |
1 Call us at 803.227.5555, send a secure Online Banking message, or come by a branch to sign up or apply for these services; 2 Subject to credit approval.
Courtesy pay gives you the flexibility to overdraw your account up to the disclosed limit in order to pay for a transaction. Courtesy Pay acts as a second line of coverage that protects you and your accounts if you exhaust overdraft protection. We offer standard Courtesy Protection and Extended Courtesy Pay Protection.
Here’s how it works:
| Courtesy Pay Transaction Type | Standard Courtesy Pay Protection | Extended Courtesy Pay Protection |
|---|---|---|
| Checks | X | X |
| ACH – automatic debits | X | X |
| Recurring debit card payments | X | X |
| Online bill payment items | X | X |
| Internet banking transfers | X | X |
| Telephone banking | X | X |
| Teller window transactions | X | X |
| ATM withdrawals | — | X* |
| Everyday debit card transactions | — | X* |
*If you choose Extended Coverage on your consumer account, ATM withdrawals and everyday debit card transactions get added on top of everything in Standard Coverage. If you already have Extended Courtesy Pay, you don’t need to request it again — and business accounts get Extended Coverage automatically.
Courtesy Pay limits of up to $500, or $1000 with minimum recurring monthly direct deposits of $500 are available for eligible Personal Checking accounts opened at least 35 days in good standing, and $500, or $1000 with minimum recurring monthly direct deposits of $500, for eligible Business Checking accounts opened at least 35 days in good standing.
Courtesy Pay may be reduced to $100 if you default on any loan or other obligation to us, your account becomes subject to any legal or administrative order or levy, or if you fail to maintain your account in good standing by not bringing your account to a positive balance within 32 days for a minimum of one business day. You must bring your account balance positive for at least one business day to have the full Courtesy Pay limit.
We do not authorize and pay overdrafts on ATM and everyday debit card transactions without your consent. If you want us to authorize and pay overdrafts on these transactions, call us at 803-227-5555 or complete the form below.
You can revoke your authorization at any time by either of these methods. Your revocation must include both your name and your account number so that we can properly identify your account.
Looking for more than checking? Explore savings accounts, certificates, home and auto loans, digital banking, and additional services that help you build a stronger financial future with Caro. We make business banking smart and personal, too, with a robust lineup of accounts and services for the entrepreneurs among us.
