Frequently Asked Questions About Pay Cards

GRCC

Frequently Asked Questions about Pay Cards

Q: What is a pay card?

A: A pay card is a fast, dependable, safe and secure way to get your money each payday. It is a card issued by Lake Michigan Credit Union.

Q: Do I have a choice how I receive my pay?

A: Yes, you can chose between direct deposit into up to two financial institutions or the LMCU pay card.

Q: How do I use the card and get my cash?

A: There are several options.

· You can withdraw cash at any ATM, no-fee at any of the LMCU ATM’s

· You are able to make an in-person withdrawal at LMCU branches for only $1.00

· You can use it anywhere you use a debit card by selecting “debit” and entering your pin number

· You are eligible for free cash back on most debit purchases

· No fee purchases anywhere MasterCard is accepted

Q: Will I be able to add other funds onto my card?

A: Yes, in addition to your bi-weekly pay from GRCC, you will be able to deposit cash only at any LMCU branch. Deposits are not allowed at ATM’s.

Q: What if I don’t spend all of the money that was put onto my card.

A: The money stays in your pay card account, and future payments are added to the balance.

Q: Is the balance always correct?

A: Yes, the transactions are real-time so there will never be an outstanding amount.

Q: What do I do if my pay card is lost or stolen?

A: Contact any LMCU branch immediately to inactivate card and receive a new paycard.

Q: How do I check my balance?

A: LMCU offers several free options.

· Free monthly statement

· Unlimited transactions and balance inquiries at any of the LMCU ATM’s

· 24 hour access to online banking at www.lmcu.org

· 24 hour access to phone banking at (800 or 616) 242-9790

Q: Are there any fees?

A: Yes, there are a few fees associated with the pay card.

· $5.00 membership share funded by first payroll direct deposit

· $5.00 monthly fee on the last day of each month, after the first full month

· $5.00 account closing fee

· Non-LMCU ATM fee of $1.00 from LMCU plus ATM surcharge

· $30.00 Non-Sufficient Funds fee

· $5.00 replacement card fee

· $1.00 fee for in-person cash withdrawals at LMCU branch locations