Overdraft Protection provides short-term credit for unforeseen expenses and temporary cash shortfalls in your chequing account. It ensures cheques, withdrawals, pre-authorized payments, and debit card purchases are honoured up to a pre-arranged limit.
Benefits of Overdraft Protection
- Protects you from incurring the cost of a returned item, such as an NSF cheque or pre-authorized debit
- Convenient 24/7 access to your credit through the branch network, telephone, online and mobile banking, ATM/POS and cheques
- A standard interest rate is charged only on the funds you use
- Repaying is easy. As soon as you make a deposit to your account it will automatically be applied against your overdrawn balance
- Minimum overdraft protection available of $500 and to a maximum limit of $4,999