KNOWLEDGE BASE

What's the difference between overdraft protection and overdraft coverage?

Overdraft coverage
With overdraft coverage, some transactions may be covered at the bank's discretion if you don't have enough funds available in your checking account. Transactions covered may include checks, automatic electronic payments and ATM withdrawals.

  • If you opt for ATM/debit card overdraft coverage, the bank may pay these transactions.
  • If you do not opt for ATM/debit card overdraft coverage, the transaction will be declined.

Overdraft protection
With overdraft protection, other eligible accounts (i.e. savings, money market, checking etc.) can be linked to your checking account to transfer funds automatically to cover transactions when you don’t have enough funds available in your checking account.

  • You can link multiple eligible accounts to help avoid overdrafts.