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What is Privilege Pay?
Privilege Pay from Cyprus Credit Union helps ensure your checking and everyday debit card transactions clear in the unlikely event your checking account balance runs low. Cyprus offers two types of Privilege Pay: Privilege Pay and Privilege Pay Plus.
Privilege Pay will cover recurring debit card purchases, checks, ACH transfers and bill pay. This service is included in your Dream Checking account and requires no action on your part.
Privilege Pay Plus provides all the coverage above plus one time debit purchases and ATM withdrawals. To access the coverage of Privilege Pay Plus, you will need to opt in.
What does Privilege Pay cost?
If you never use the service, you never pay a fee. It’s there for your convenience if needed. If used, a $25 fee will apply each time an overdraft is paid. There are no fees to sign up and no maintenance or annual fees apply.
Provides Convenience – provides uninterrupted access to using your debit card Eliminates Embarrassment – helps avoid embarrassment of having transactions declined or checks bounced Gives Security – Provides
coverage for unexpected expenses Avoid Merchant Fees – helps avoid additional fees merchants may charge if a charge doesn’t go through
What are alternatives to Privilege Pay?
You can provide overdraft protection by linking your checking account to: overdraft line of credit (a loan linked to checking account, no fees) or other savings product (automatic transfer, no fees).
Members can have both a line of credit and Privilege Pay or Privilege Pay Plus. Your line of credit will be utilized first, with privilege pay used once the line of credit has been exhausted.
FeaturesIncluded with your checking account?Privilege PayYes. No action is required to utilize this service. Privilege Pay PlusNo. To access Privilege Pay Plus, you must opt in to the coverageOverdraft ProtectionNo. You must apply for an Overdraft Line of Credit
Apply for an Overdraft Line of Credit
FeaturesCostPrivilege Pay$25 each time overdraft paid. Privilege Pay Plus$25 each time overdraft paid. Overdraft Protection
No fee. Transfers and/or withdrawals made from your line of credit.
The rail navigation utilizes arrow, enter, escape, and space bar key commands.
Left and right arrows expand / close menus in sub levels. Up and Down arrows will navigate through top tier links. Enter and space opens menus and escape closes them as well. Tab will move on to the next part of the site rather than go through menu items.
The products and services on this page are offered through LPL Financial or its affiliates by Registered Representatives of LPL Financial. These products and services are not credit union deposits, not credit union guaranteed, not insured by NCUA or any other government agency, and may lose value. Cyprus Credit Union is a separate entity and is not affiliated with LPL Financial.
Links from the Cyprus Credit Union web site to other web sites are provided solely as a convenience to visitors.
If you use these links, you will leave the Cyprus Credit Union web site.
The Credit Union does not have any responsibility
or control over any of these external web sites, their content or their privacy policies. We do not endorse or make any representations about
third-party external web sites, including any information, products, materials or results that may be obtained from using them.
If you decide to access any of the linked third-party web sites, you do so entirely at your own risk. You are encouraged to review the privacy
notice for each linked web site.
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