Tips to Avoid Fees

As a financial institution, we regularly send important account information to our members, as well as replacement cards and statements. Having an accurate address on-file is essential. If you change your address with the post office, simply update your address with GTE to avoid a Bad Address charge. If a mailing address does come back returned or bad, an $11 fee will be assessed monthly. The good news is…members can call us, visit a location or login to Online Banking 24/7 to review and update contact information with ease. 

We know a new Rush Card for $30 is sometimes necessary. However, did you know every GTE location is able to instantly issue a card onsite? Also, if you were to lose your card, damage it or perhaps it was stolen, you can reissue yourself a new card within the GTE Mobile App. You can then load your card to your mobile wallet, like Apple Pay or Samsung Pay, to begin using the card immediately with your phone. You can also flip the card in the App to show the full card information, so you can make online purchases right away, without having a plastic card in hand. 

View our Instantly Easy videos for more top tech tips!

Instead of an overnight payment that comes with rush charges, try utilizing an external transfer with Zelle or initiating an ACH payment (like Bill Pay) with the company or merchant directly. While those services may still have a charge, they are less expensive options. 

When you utilize a card for payment, there are additional processing fees GTE incurs for that transaction. To avoid a pass-thru fee, you have options! Members at GTE that have a loan often also have a deposit account that they use to make their loan payment. Transfers and payments from GTE accounts are free and can be easily completed in virtual banking. Many loan types, you can also set-up frequency and payment type to make on-time loan payments super simple. Bill Pay services can also be a great option that most financial institutions offer with low to no fees. With on-time loan payments, members can also prevent late charges completely. And, if an unexpected financial hardship ever occurs, members are encouraged to contact our We Can Help team to assist.  

Sometimes you may just want to complete a transfer over the phone – no problem! If you’d like to avoid this charge, you can make a free transfer using Online Banking or our award-winning GTE Mobile App in just a few clicks. 

Instead of purchasing a Loan Coupon Book, virtual banking is a great way to know your upcoming loan payment amount and due date. And, if you ever need to mail in a check payment, you can simply write your account number and provide instructions in the memo line of your check to ensure payment is received. Members can also set-up up ACH payments (like Bill Pay) or conduct a transfer directly from their GTE checking or savings account to their GTE loan—these are no-cost options that are both easy and convenient. 

We understand that life happens, and sometimes members may spend more than they have available. That’s why we give members a few days to bring an account balance back to positive. However, if a member maintains a negative balance for 6 days, a fee of $7 will be charged each month until the account is no longer negative. With Online Banking and the GTE Mobile App, you can quickly view your available and current balance in seconds. In addition, members can set up custom account balance notifications in Online Banking, so if your balance falls below a certain level, you can receive an update! 

We understand that unexpected expenses may pop up. And, there may be times when you need to make a purchase that exceeds your available balance. If you have additional funds in other eligible GTE accounts, we encourage members to set-up Overdraft Protection* to automatically transfer money into your checking from a linked account. This opt-in convenience service comes with an Overdraft Transfer fee of $7 charged to your account per occurrence and is a great first line of defense to avoid a Non-Sufficient Fee charge or a decline. Members can also transfer money between accounts instantly in Online Banking, or with the GTE Mobile App at any time, for free. You can also set-up alerts in Online Banking to notify you if your balance is getting low. 

At GTE, our ultimate goal is to help members avoid NSF charges all-together.

Knowing your account balance can save you from ever having to pay a Non-Sufficient Funds (NSF) fee. With GTE’s virtual banking services, you can quickly check your balance and even set-up alerts for when your balance gets low. We also know there may be circumstances when you’d like the ability to overdraw your account. For example, if you have an emergency medical issue, need to pay an important bill, or your car breaks down…you may want that transaction to still go through.

To help avoid potential declines for insufficient funds, GTE automatically offers a convenience service called Courtesy Pay** for check and Automated Clearing House (ACH) transactions, which includes our Bill Pay service. Members can also choose to enroll in Courtesy Pay to cover debit card transactions or ATM withdrawals that may exceed your balance (a member must opt-in for this enhanced option). 

If a member has Courtesy Pay, GTE can approve a transaction that overdraws the account; a member will then receive a Courtesy Pay NSF charge of $35 to cover this service.

A member can also opt-out of Courtesy Pay—no member is obligated to enroll. If a member does not have this service, a transaction that overdraws the account would be declined (the account would not go negative), and the transaction would not go through. The member could then receive either a $2 Point of Sale Denial fee for a debit card transaction exceeding five dollars, a $12.50 Returned Item fee for a check that is deposited and then returned, or a $35 NSF returned item fee for a GTE check, other financial institution check, or ACH transaction that is rejected due to insufficient funds. Merchant-driven fees can also occur outside of GTE’s control if payment to the merchant is not completed. 

Top Tips for Avoiding NSF Charges: 

• By checking your balances often, members can avoid overdrawing an account on accident—you never have to worry about an NSF charge.
• Set-up balance alerts in Online Banking, so you receive a reminder when you are running low.
• If you have a loan with GTE and are experiencing a financial hardship, please reach out to us! We are here to help.
• For an emergency or an important payment, you may want the ability for GTE to approve a charge that may exceed the account balance—for those rare occasions, first set-up Overdraft Protection to cover an overage. If funds are still insufficient, a $35 Courtesy Pay charge may be a good option, versus being declined. 
• Check out our free education and tools for the whole family covering topics like savings, budgeting tips, plus Instantly Easy video tutorials. Just click the ‘Education’ button in the main menu of gtefinancial.org. 

Members can update their Courtesy Pay enrollment at any time by using our mail-in or online banking form, visiting a location or contacting Member Care. Additional detail on Courtesy Pay and Overdraft Protection can also be found in our Account Disclosure and Member Schedule of Current Charges. 

*Eligible linked accounts include: Savings, Money Market, Personal Line of Credit, and Credit Card. Health Savings Accounts (HSA) are excluded. Personal Line of Credit and Credit Card transfers are only available in specific increments that could differ from or exceed the exact transaction amount. A Credit Card transfer is subject to a Cash Advance Fee found in the Credit Card Disclosure. A member can link more than one account; transfers will be prioritized in the order they are set. Primary and joint owner(s) can act on behalf of all owners. A single owner can update overdraft coverage. Members may update their Overdraft Protection enrollment and account selection at any time using the form in Online Banking or by giving us written, electronic, or verbal instructions.

**The full amount of the overdraft balance, plus related fees, will be due immediately and cannot be overdrawn more than 5 days after the date of the occurrence to avoid a Negative Balance Fee. Negative balances that exceed 14 days may lose access to Courtesy Pay and be subject to charge-off and collection. GTE Financial will pay overdrafts at our discretion; there is no guarantee of payment. If an overdraft is not authorized, your transaction will be denied and subject to applicable fees. Federally Insured by NCUA. Additional terms and details can be found in our Account Disclosure and Member Schedule of Current Charges.