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What is overdraft protection?

April 26, 2017checking account overdraft overdrawn

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What is overdraft protection?

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• A. Overdraft protection is designed to “cover” your account in case of an overdraft. With overdraft protection, U.S. Bank transfers money from one account to another to cover the sum of the negative balance. This is HIGHLY recommended for first-time accountholders. There are two ways you can set up overdraft protection. You can either open a U.S. Bank Savings Account or apply for a U.S. Bank College Visa Card. Ask a U.S. Bank representative for more details.

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A. Overdraft Protection is a free service offered to all members who have balances over $50 in your savings account. Funds from your savings account are used to cover checks written on your Riverfront checking account.

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Overdraft protection is the arch enemy of a bank’s “bad boy fees.

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Overdraft protection is an agreement with the bank or financial institution to cover overdrafts on a checking account. This service will typically involve a fee and be limited to a preset maximum amount.

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Overdraft protection is a service that protects you from the hassle of an overdrawn account and insufficient funds fees. With overdraft protection, available funds from your Wachovia deposit or credit account are transferred to your checking account if you should overdraw your account. You can set up overdraft protection when you apply for any checking account online, or by calling 800-WACHOVIA (800-922-4684).