How does overdraft protection work?

Overdraft protection moves money to a deposit account when its available balance becomes negative. Funds come from a linked account acting as overdraft protection, which may help avoid a potential overdraft fee.

When overdraft protection is triggered, $5 is transferred when the negative available balance is $5 or less. If the overdraft is $5.01 or more, the amount will be moved in multiples of $50.

If the overdraft is more than $5, an Overdraft protection transfer fee of $12.50 may be charged. The fee is reduced or waived if one of the following circumstances apply:

  • The available balance is negative by $50 or less.
  • The transfer comes from a linked and eligible1 deposit account.
  • You are an Ascent Private Capital Management, Private Wealth Management, or Wealth Management client.

You can have overdraft coverage and overdraft protection on the same account. If you do, please note we’ll use overdraft protection first. If there’s not enough funds available in the overdraft protection account, then standard overdraft coverage applies.

More information

  • The owners need to be the same on the deposit account and accounts acting as overdraft protection.
  • When credit accounts are chosen as overdraft protection, other charges may apply. These can include, but aren’t limited to annual fees, cash advance fees and interest charges.
  • Overdraft protection funds are transferred before the account is reviewed for Overdraft fee forgiven.

Refer to Your Deposit Account Agreement, section titled “Overdraft Protection Plans,” for more information.

1Eligible accounts that can function as overdraft protection are listed below.

  • Savings and money market accounts.
  • Secondary personal checking accounts.
  • Personal credit cards.
  • Reserve, personal, or home equity lines of credit.