Overdraft Services

Looking for some well-deserved peace of mind? Here are some of the highlights of our comprehensive personal overdraft services.

Cash Reserve Account

A Cash Reserve Account will add a flexible line of credit to your ESL Free Checking or Premier Checking Account. It automatically helps make sure your transactions are covered.

• Lines available up to $10,000.
• Get automatic advances to prevent overdrafts and bounced checks.
• Avoid late fees and fees from merchants for returned items.
• Get fast access to extra cash with advances from your line of credit in $100 increments.
• Transfer money from your line of credit to your checking account without any transfer fees at any ESL branch, through online banking, mobile banking, and chat banking, or by calling 585.336.1000.

CheckOK

This helpful money management service provides overdraft protection by linking your ESL checking and savings accounts.

• Save money by avoiding costly overdraft fees.
• Pay only one CheckOK fee per day when you use the service, regardless of how many advances are needed.

ESL Courtesy Pay^*

ESL Courtesy Pay automatically covers overdrafts for a simple, straightforward fee.

• Qualified ESL checking account holders are automatically enrolled.
• Automatically covers the cost of transactions when you don’t have enough money in your ESL checking account. There is a $250 limit per account for the ESL Free Checking Account and ESL Premier Checking Account.
• Allows ESL checks, automatic ACH withdrawals, and ESL Bill Pay transactions to be paid up to the limit.
• Registration required to cover ESL Visa^® Debit Card transactions.
• Simple, straightforward fee for each transaction.

ESL Courtesy Pay Registration and Opt-Out Information

You can register for Courtesy Pay (to cover debit card transactions) or to opt out of Courtesy Pay at any time by completing our Registration / Decline form, found in online banking. Or you can connect with an ESL Representative who will be happy to assist you. If you receive a direct deposit of your monthly Social Security payment into your checking account and do not want ESL Courtesy Pay, you must inform us in writing to stop paying your overdrafts with these funds.

Online banking steps:

• Sign in to online banking.
• Click Manage Money.
• Choose Manage Overdraft Services.
• Select ESL Courtesy Pay Registration/Decline Form.
• Complete the form to request or decline existing services.

Cash Reserve Account

Eligibility. All applicants must be 18 years of age and have an ESL Free Checking or Premier Checking Account.

Application and approval. Approval of your application is required to open an ESL Cash Reserve Account. Your credit history will be reviewed during the application process.

Cash advances. If your application is approved, you can transfer funds from your Cash Reserve Account to your ESL checking account in $100 increments.

Requesting a cash advance. You can request cash advances from your Cash Reserve Account—quickly and easily—through online banking, mobile banking, and chat banking. You can also call 585.336.1000 or visit any ESL branch.

Calculating your monthly payment. The monthly payment is 2.7778% of the principal loan balance outstanding at the end of the last monthly statement period, plus the finance charge and any late charges that are due.  For accounts opened before March 1, 2009, the monthly payment will be 2.7778% on credit limits up to $4,999.99 and 2.0833% on credit limits of $5,000 and over of the principal loan balance outstanding at the end of the last monthly statement period, plus the finance charge and any late charges that are due.

Minimum monthly payment. The minimum monthly payment is $20 for accounts with a balance or the entire outstanding balance if it is less than $20. If there is no balance, no payment is due.

Payment due date. Your payment is due on the 28th of each month.

Late charges. A late charge of 2% of the principal and interest payment due is assessed if the account is more than two days past due.

Payment options. You can repay your account balance at any ESL branch or through online and mobile banking. You can also make payments through chat banking and TEL-E$L.

Prepayment. There are no prepayment penalties with our Cash Reserve Account.

CheckOK

Eligibility. To take advantage of our CheckOK service, you need an ESL Free Checking or Premier Checking Account and a linked ESL savings account. There is no minimum age requirement.

• Checking accounts may be connected to our CheckOK service OR a Cash Reserve Account, but not both.
• Guardianship, Conservator, Custodian, Representative Payee, and Federal Fiduciary Accounts may not have this service.

Automatic advances. CheckOK automatically uses advances from your linked ESL savings account to cover withdrawals when there are insufficient funds in your checking account.

• Advances are made in the exact amount required to cover a withdrawal.
• If the linked savings account does not have the exact amount required, an advance is not made.
• Withdrawals covered by CheckOK can be made by check, at an ATM or point of sale, or through Automated Clearing House (ACH) transactions.

One fee per day maximum. With CheckOK, you will pay only one fee per day when you use the service, regardless of how many advances are needed. (See Fees tab.)

For more information, see the CheckOK section in our Frequently Asked Questions.

ESL Courtesy Pay^*

Eligibility. With ESL Courtesy Pay, the primary account holder must be at least 18 years of age and have an ESL Free Checking or Premier Checking Account that has been opened for at least 30 days.

Enrollment and registration. Checking account holders who meet qualifying criteria are automatically enrolled in ESL Courtesy Pay. If you do not want to take advantage of this service, you can opt out by:

• Signing in to online banking and completing the ESL Courtesy Pay Registration/Decline Form [Manage Money > Manage Overdraft Services]
• Connect with an ESL Representative so we can help.

Basic coverage. ESL Courtesy Pay automatically covers checks, automatic ACH withdrawals, and ESL Bill Pay transactions.

Coverage for ESL Visa^® Debit Card transactions. If you want ESL Courtesy Pay to cover debit card transactions, you need to sign in to online banking and complete the Registration Form.

Fees. A simple, straightforward fee is charged for each ESL Courtesy Pay transaction.

Balance requirements. To maintain your Courtesy Pay service, you must bring your account to a positive end-of-day available balance at least once every 10 days. Please remember that ESL will not pay overdrafts if you do not meet the eligibility requirements.

For more information, see the Courtesy Pay section in our Frequently Asked Questions.

To qualify for one of our great personal overdraft services, all applicants must be at least 18 years of age, have an ESL checking account, and be a member in good standing. 

• Learn how to become an ESL member.

Once you qualify, it’s easy to apply for an ESL Cash Reserve:

• Visit any ESL branch.
• Call 585.336.1000.
• Apply online for a Cash Reserve Account.
• Print Cash Reserve Application and bring completed form to any ESL branch.

Avoid costly fees. Protect your reputation. And stop worrying about the possibility of overdrafts and bounced checks.

It all comes with the peace of mind you get with Personal Overdraft Services from ESL, the local financial services leader that answers to you.