"Overdraft transfers" refers to the process of moving money from one account to another when there is not enough money in the first account to cover a payment or withdrawal. This helps prevent the account from going into overdraft, which could result in fees or declined transactions.
Full definition
There is no limit to the number
of overdraft transfers that can be made from the linked account daily or monthly.
When you set up
Overdraft Transfer Plan, CEFCU will automatically transfer money into your Checking account (if funds are available) to cover overdrafts.
Finally, Ally Interest Checking comes with no monthly fees, no fees
for overdraft transfers and up to $ 10 in reimbursements for third - party ATM surcharges.
The credit union does, however, offer
free overdraft transfers from a linked First Tech savings account, and you can use a personal line of credit for overdraft protection.
Bank5 Connect doesn't charge anything for
overdraft transfers and incoming wires, so you have more than one way to transfer money into your account without undue costs.
Overdraft transfers are a cheap option if you're worried about getting hit with nonsufficient funds fees.
You link an SECU savings or credit account to your checking account for
overdraft transfers, and the credit union will charge only 50 cents per transfer for up to six transfers each month (after your two free days are used up).
Repeatedly going above six can cause you to lose
this overdraft transfer option.
With Ally, you won't pay any monthly maintenance,
overdraft transfer fees or incoming wire transfer fees.
The downside of overdraft protection is that you can accidentally drain your savings or run up a credit card balance if your bank doesn't alert you every time it executes
an overdraft transfer.
No fees for ACH transfers,
overdraft transfers, debit card, incoming wires, postage - paid deposit envelopes, cashier's checks, and standard checks
Also called
the overdraft transfer fee, the overdraft protection fee is charged for every time the bank arranges a transfer from another one of your accounts — usually a savings account — to cover the overdraft.
While this can save you money in comparison to paying overdraft or NSF fees, if the bank's policy does not include mandatory notifications for
each overdraft transfer, you can end up draining your savings before you realize what's happening.
Though most banks charge for
each overdraft transfer, the fee is lower than typical overdraft and nonsufficient fund fees.
The best part is that there is no fee for
an overdraft transfer, so it's a huge savings over paying the overdraft fee.
Overdraft transfers are subject to a transfer fee.
The fee for
these overdraft transfers and excessive transfers, if any, is set forth in our current fee disclosure.
No more than six (6) preauthorized automatic,
overdraft transfers or telephone transfers may be made from these accounts to a checking account of yours, or to a third party, in any month.
Overdraft Increments:
Overdraft transfers to checking will be made to cover the draft item or the available overdraft balance, if less.
Overdraft transfers are a cheap option if you're worried about getting hit with nonsufficient funds fees.
Repeatedly going above six can cause you to lose
this overdraft transfer option.
You link an SECU savings or credit account to your checking account for
overdraft transfers, and the credit union will charge only 50 cents per transfer for up to six transfers each month (after your two free days are used up).
For money market savings accounts or special savings accounts you may not make more than six (6) preauthorized, automatic, telephonic, audio response, Internet or
overdraft transfers to another account of yours or to a third party during any calendar month.
Bank5 Connect doesn't charge anything for
overdraft transfers and incoming wires, so you have more than one way to transfer money into your account without undue costs.
One
overdraft transfer fee («Sweep Fee») will be charged to your Linked Account for each day we make a transfer from your Account to cover that day's overdrafts in your Linked Account.
$ 8 for
each overdraft transfer to your CEFCU Checking account.
Even then, you'll pay a $ 10 fee for each day you make
an overdraft transfer.
If you enroll in Overdraft Protection with your credit card,
overdraft transfers will be bank cash advances under your Business Card Agreement and will accrue interest at the APR stated in your Business Card Agreement.
For instance, if you opt into overdraft protection that draws from a line of credit or credit card rather than a savings account,
any overdraft transfers can cause your checking account to show up on your credit report.
Citadel's Premiere Checking account offers rewards on debit purchases, earns returns, and has completely free
overdraft transfers.
If you did not choose an option when you set up your account, PSECU will automatically set up
overdraft transfers from your Regular Shares.
To add a Visa ® line of credit as an overdraft option, you need to complete and return a form authorizing us to access your line of credit for
overdraft transfers.
This service automatically transfers your own funds between linked bank accounts to cover overdrafts, charging
an overdraft transfer fee of $ 10 - $ 12.
Typically $ 10,
the overdraft transfer fee can be avoided by setting up low - balance alerts for your checking account.
Overdraft Transfer Fees This related fee can be charged to automatically transfer funds from another account to your checking account to prevent a check from bouncing.