What is the difference between Overdraft Privilege and Security Protection?
Security Protection is actually a loan product. You can protect yourself from embarrassing overdrafts, and save the fees associated with merchants as well with Security Protection. Based on credit approval, a credit limit would be available for when you have to write a check and the funds are not yet available in your account. Drafts are made in $100 increments to cover checks that are written. Overdraft Privilege, however, is not a loan product. And you are not charged interest for the time that you use Overdraft Privilege funds. The normal overdraft fees apply with Overdraft Privilege, but your checks are paid to the merchant.
