Other Product Options
Please refer to the Product Overview section of the "Checking Account Advance Agreement" or see "Your Deposit Account agreement" (page 52) for more information.

What is the difference between overdraft protection and the checking account advance service?
Overdraft protection is set up to automatically transfer sufficient funds into the checking account if the checking account would have a negative balance at the end of the day. Overdraft protection often requires an application and credit check; however, this may be a lower cost option to cover unexpected overdrafts if you qualify.

Checking account advance does NOT automatically transfer funds if the checking account would become overdrawn. Customers must monitor their checking account, and if they believe they may become overdrawn, they must initiate every advance and know how much to advance from the checking account advance service. This service does not require an application or credit check, but before making any decisions to use this service, be sure to view the "Guide to Checking Account Advance" and the "Checking Account Advance Agreement" for a complete understanding of this service along with your rights and responsibilities.

What are the benefits to using the checking account advance service?
There are many situations where a customer needs access to cash for an emergency situation and the customer does not have overdraft protection, the bank is closed. There are also situations where a customer does not qualify for a credit product like overdraft protection or a credit card because they have no credit history or has a bad credit history. checking account advance provides quick access to funds for consumer checking customers in 'emergency' situations.

Example: Let's say your car breaks down on a Saturday and you need $250 to fix the car. The bank may be closed or you've had trouble qualifying for a loan in the past because you have "no credit" or "bad credit" history. By requesting a checking account advance, you can advance funds immediately to fix your car.

BACK TO ALL FAQ TOPICS
The Checking Account Advance Guide
The Checking Account Advance Agreement