Basic Checking
Basic Checking is a totally free checking account with no minimum balance and no monthly fee. One thing that sets our checking apart from the others? Immediate availability of your direct deposit checks. This means your paycheck is typically available to you a day early!
Visa Debit Card
Enjoy the convenience of paying directly from your account. Visa Debit cards offer quick, secure, and convenient access to your money in person, online, and over the phone.
We have now added the convenience of offering you instant issue cards! If you find that you need to replace your card due to damage or fraudulent activity, we can now get the replacement card in your hands immediately. No more waiting for several days for a new one to arrive through the mail.
If you are not using our ESFCU Visa Debit Card, now is the time to say YES! Call/Text us at 620-342-2336 and you can have easy, quick access to the money in your checking account today!
If you have a lost or stolen Visa Debit Card, please notify us immediately at 620-342-2336. If unable to reach ESFCU directly, the ACCEL network can be reached 24 hours a day/7days a week at 800-472-3272.
If you wish to set/change your PIN number, please call 800-992-3808.
Card Valet
This is a great tool that lets you control your ESFCU debit card usage and spending on the go!
- Turn your debit card on and off
- Establish transaction controls for dollar amount limits, merchant categories and geographic locations
- Receive alerts when your card is used, approved or exceeds the transaction controls set by you
- Stay informed of potential fraud with alerts on attempted and declined transactions
- Get real-time balances for your account
- Get the mobile app that lets you control card usage and spending on the go.
More about Debit Cards
Debit cards are one of the most common forms of payment. In fact, according to Bankrate, 63% of people between 18 and 29 don’t bother with cash, checks, or a credit card, preferring to use their debit cards.
When you use a debit card, the amount of the payment is debited, or subtracted from, the checking account to which the card is linked. You spend $5, and $5 comes out of your account, sometimes instantly and sometimes a few days later, depending on how the purchase is processed.
There are generally no limits on the number of transactions you can make with a debit card in a single day. However, most debit cards have daily withdrawal limits, though they vary depending on the bank or card issuer. Larger banks tend to have the highest limits.
Debit Card Benefits
For ease of use, debit cards can’t be beat. You don’t have to worry about keeping cash in your wallet, and there’s always a record of how much you spent, and where, on your bank statement.
They’re accepted almost everywhere. In fact, many stores and other sellers prefer debit to credit cards because they pay lower fees on debit cards.
Fees
Debit cards usually have low—or no—direct fees. However, you’ll need to watch out for overdraft fees, possible out-of-network ATM fees, any applicable PIN transaction fees, and any monthly fees to maintain the checking account that the card is associated with.
Didn't Make That Purchase
If someone makes an unauthorized charge on your debit card, you will need to work quickly to resolve the problem. The Electronic Fund Transfer Act provides protections for you: if you report your card stolen or lost within two days, your maximum financial liability is either $50 or the total of the unauthorized transactions, whichever is less. If you wait longer than two days, you may be liable for $500 or more—so it’s important to act quickly.
Debit Cards V. Credit Cards
While credit and debit cards appear to be very similar, and you use them in a lot of the same ways, what happens after you use the card is completely different. With debit cards, the amount of a purchase is deducted directly from your bank account balance. But when you use a credit card, the amounts you spend are recorded, appear on your monthly statement, and must be paid back in full by the due date to avoid interest charges. There are some other differences that go beyond how the cards work:
Cash Withdrawals
In addition to purchases, debit cards are designed for cash withdrawals. If you use a machine within your bank network, you usually won’t pay any fees. But with a credit card, as soon as you withdraw the money, you’ll pay an upfront fee for the advance. And you’ll begin to accumulate a finance charge at a rate higher than your card’s APR (which is the rate you pay on purchases.)
Consumer Protections
Another difference between debit and credit cards is that if you buy defective merchandise with a debit card, you can’t withhold payment while your complaint is resolved. You’ve already paid. In contrast, your credit card provider will let you withhold payment while it investigates your claims in cases where you feel you shouldn’t have to pay. With a debit card, you have to investigate yourself, and there’s no assurance you’ll succeed in getting a refund.
Credit History
There is one area in which credit cards offer a real benefit that you don’t get with debit cards. Using a debit card to pay for purchases doesn’t help you build a strong credit history, since you’re not using credit. Of course, a strong credit history is not a guarantee when you are using a credit card. You still need to pay your bill on time, and pay it in full if you can.
Overdraft Coverage Options
Emporia State Federal Credit Union understands that unexpected overdrafts occur from time to time. Overdraft Coverage can help.
Overdraft Coverage Options
The choice is yours. Consider one of these options to cover overdrafts:
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Service
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Cost
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Overdraft Protection Loan (Line of Credit)
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Subject to transfer fees; subject to interest; subject to credit approval
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Courtesy Pay Standard or Extended Coverage
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$30 Courtesy Pay Fee per item presented*
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*Per item presented means each time an item is presented, including re-presentment.
OVERDRAFT PROTECTION applies to checks, ACH and bill pay transactions and may help prevent overdrafts by automatically transferring funds to your checking account from a line of credit that you have at Emporia State Federal Credit Union for a finance charge. Please note that overdraft lines of credit are subject to credit approval. Call us at 620-342-2336, send us a secure message through online banking, or come by a branch to apply for this/these service(s). Good account management is the best way to avoid overdrafts.
Courtesy Pay allows you to overdraw your account up to the disclosed limit for a fee to pay a transaction. Please review What Else You Should Know for other important information.
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Transactions Covered with Courtesy Pay
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Standard Coverage
(No action required)
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Extended Coverage
(Your consent required on consumer accounts) *
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Checks
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X
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X
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ACH - Automatic Debits
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X
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X
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Recurring Debit Card Transactions
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X
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X
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Online Bill Pay Items
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X
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X
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Online Banking Transfers
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X
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X
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Telephone Banking
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X
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X
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ATM Transactions
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X*
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Everyday Debit Card Transactions
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X*
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If you would like to select Extended Coverage for future transactions:
- call us at (620) 342-2336
- visit any branch
- complete a consent form and mail it to us at 310 W. 12th Ave., Emporia, KS 66801
- send us a secure message through online banking
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*If you choose Extended Coverage on your consumer account, ATM transactions and everyday debit card transactions will be included with the transactions listed under Standard Coverage. If you already have Courtesy Pay Extended Coverage, it is not necessary to request it again.
If you want to discontinue Courtesy Pay in its entirety, contact us at 620-342-2336 or send us a secure message through online banking.
WHAT ELSE YOU SHOULD KNOW
- A line of credit may be less expensive than an overdraft. A single larger overdraft will result in one fee, instead of multiple smaller overdrafts. Use our mobile, online, and telephone banking services to track your balance. Good account management is the best way to avoid overdrafts. For financial education resources, please visit www.mymoney.gov.
- The $30 Courtesy Pay Fee that is charged if you overdraw your account is the same fee that is charged if an item is returned as unpaid. If multiple items overdraw your account on the same day, each item will be assessed an appropriate Courtesy Pay Fee or an Insufficient Funds Fee of $30. All fees and charges will be included as part of the Courtesy Pay limit amount. Your account may become overdrawn more than the Courtesy Pay limit amount because of a fee.
- There is a limit of 5 Courtesy Pay Fees ($150) per day we will charge you for overdrawing your account. We will not charge a Courtesy Pay Fee if your account is overdrawn by $10 or less.
- Recipients of federal or state benefits payments who do not wish us to deduct the amount overdrawn and the Courtesy Pay Fee from funds that you deposit or that are deposited into your account may call us at (620) 342-2336 to discontinue Courtesy Pay.
- If an item is returned because the Available Balance (as defined below) in your account is not sufficient to cover the item and the item is presented for payment again, Emporia State Federal Credit Union (“We”) may charge an Insufficient Funds Fee each time we return the item because it exceeds the Available Balance in your account. Because we may charge an Insufficient Funds Fee each time an item is presented, we may charge you more than one fee for any given item as a result of a returned item and re-presentment of the item. When we charge an Insufficient Funds Fee, the charge reduces the Available Balance in your account and may put your account into (or further into) overdraft. If, on re-presentment of the item, the Available Balance in your account is sufficient to cover the item we may pay the item, and, if payment causes an overdraft, charge a Courtesy Pay Fee. We may use the terms “item” and “transaction” interchangeably.
- This describes the posting order for purposes of determining overdrafts. Our general policy is to post items throughout the day and to post ACH credits before debits. ATM, ACH and debit card transactions are in the order in which the items are received, while paper checks are posted in lowest to highest dollar amount; however, because of the many ways we allow you to access your account, the posting order of individual items may differ from these general policies. Holds on funds (described herein) and the order in which transactions are posted may impact the total amount of Courtesy Pay Fees or Insufficient Funds Fees assessed.
- Courtesy Pay is not a line of credit; it is a discretionary overdraft service that can be withdrawn at any time without prior notice.
- Depositor and each Authorized Signatory will continue to be liable, jointly and severally, for all overdraft and fee amounts, as described in the Membership and Agreement Disclosure. The total (negative) balance, including all fees and charges, is due and payable upon demand.
- We may be obligated to pay some debit card transactions that are not authorized through the payment system but which we are required to pay due to the payment system rules, and as a result you may incur fees if such transactions overdraw your account. However, we will not authorize debit card or ATM transactions unless your account’s Available Balance (including Overdraft Coverage Options) is sufficient to cover the transactions and any fee(s).
- Giving us your consent to pay everyday debit card and ATM overdrafts on your consumer account (Extended Coverage) may result in you incurring Courtesy Pay Fees for transactions that we would otherwise be required to pay without assessing a Courtesy Pay Fee. However, this would allow us to authorize transactions up to the amount of your Courtesy Pay limit. If you consent to Extended Coverage on your consumer account, it will remain on your account until it is otherwise withdrawn.
Understanding your Available Balance: Your account has two kinds of balances: the Actual Balance (also known as Current Balance) and the Available Balance.
- We authorize and pay transactions using the Available Balance.
- Your Actual Balance reflects the full amount of all deposits to your account as well as payment transactions that have been posted to your account. It does not reflect checks you have written and are still outstanding or transactions that have been authorized but are still pending.
- Your Available Balance is the amount available to you to use for purchases, withdrawals, or to cover transactions. The Available Balance is your Actual Balance, less any holds due to pending debit card transactions and holds on deposited funds.
- The balance used for authorizing checks, ACH items, and recurring debit card transactions is your Available Balance plus the amount of the Courtesy Pay limit.
- The balance used for authorizing ATM and everyday debit card transactions on accounts with Standard Coverage is your Available Balance but does NOT include the Courtesy Pay limit.
- The balance used for authorizing ATM and everyday debit card transactions on accounts with Extended Coverage is your Available Balance and includes the Courtesy Pay limit.
- Because your Available Balance reflects pending transactions and debit holds, your balance may appear sufficient to cover a transaction but later upon settlement it may not be sufficient to cover such transaction. In such cases, the transaction may further overdraw your account and be subject to additional overdraft fees. You should assume that any item which would overdraw your account based on your Available Balance may create an overdraft. Note that we may place a hold on deposited funds in accordance with our Membership and Agreement Disclosure, which will reduce the amount in your Available Balance.
- Please be aware that the Courtesy Pay amount is not included in your Available Balance provided through online banking, mobile banking or Emporia State Federal Credit Union’s ATMs.
- We will place a hold on your account for any authorized debit card transaction until the transaction settles (usually within two business days) or as permitted by payment system rules. In some cases, the hold may exceed the amount of the transaction. When the hold ends, the funds will be added to the Available Balance in your account. If your account is overdrawn after the held funds are added to the Available Balance and the transaction is posted to the Available Balance, a Courtesy Pay Fee may be assessed.
- Except as described herein, we will not pay items if the Available Balance in your account (including the Courtesy Pay limit, if applicable) is not sufficient to cover the item(s) and the amount of any fee(s).
Understanding Courtesy Pay Limits
- New consumer checking accounts will receive a $ 100 Introductory Courtesy Pay limit at account opening.
- A Courtesy Pay limit of up to $500 will be granted to eligible consumer checking accounts opened at least 35 days with aggregate deposits of $500 or more and are in good standing.
- Courtesy Pay will be suspended 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 35 days for a minimum of one business day. You must bring your account balance positive for at least one business day to have the Courtesy Pay limit reinstated.
If you have any questions about Courtesy Pay, please call us at 620-342-2336 or visit a branch.