Need some money to cover a cheque? Or perhaps you’re worried about unexpected expenses? We have a convenient solution for you.
WHAT IS OVERDRAFT PROTECTION?
Overdraft protection allows you to cover all cheques and upcoming pre-approved debits. Be proactive and avoid expensive penalties on bounced cheques and preapproved debits. The overdraft protection guarantees funds for issued cheques, pre-approved debits and other type of transactions up to a maximum limit based on your needs.
The monthly charge is minimal - much less than NSF cheque penalties. It’s debited automatically to your account, regardless of the number of overdrafts. And there’s not fee when the service is not used during any given month.
Overdraft protection also gives you access to short-term cash when you need it. It’s a very convenient way meet unexpected expenses!
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This service is suited for you if:
- You want to avoid bounced cheques and pre-approved debits;
- You want access to funds in case of emergency;
- You seek a solution cut down on NSF penalties and you don’t qualify for a line of credit.
This service is not suited for you if:
- You need additional liquidities regularly; in which case a personal line of credit would be more appropriate.