What is overdraft protection?

Overdraft protection options cover your business checking account transactions using available funds should your checking account become overdrawn. Choose from:

CONTACT A LENDER TO GET STARTED


Small Business Overdraft Line of Credit

  • Available to qualified smaller home-based or sideline businesses in amounts of $500-$2,500
  • Provides coverage for businesses with a Merchants Bank Small Business Checking account
  • Interest rate of 15.59% APR and annual fee of $30
  • Funds from this revolving line of credit will transfer in increments of $300
  • Monthly payment amount is determined by the outstanding line of credit balance
  • Interest begins to accrue as of the date of the transfer on the amount of the funds advance, but you will not be charged a fee for the transfer itself
  • Flexible payment options include monthly billing or automatic payments


Business Overdraft Line of Credit

  • Available to qualified for-profit businesses, who have been in business for at least 12 months, in amounts of $1,000-$24,999
  • Provides coverage for business with a Merchants Bank Business, Interest-Bearing or Small Business Checking accounts
  • Interest rate of Prime + 4% with a floor of 5.5% and annual fee of $50 
  • Funds from this revolving line of credit will transfer in increments of $500
  • Monthly payment amount is determined by the outstanding line of credit balance
  • Interest begins to accrue as of the date of the transfer on the amount of the funds advance, but you will not be charged a fee for the transfer itself
  • Flexible payment options include monthly billing or automatic payments

Contact a Commercial Banker, Cash Management Specialist or Customer Service Representative at your local Merchants Bank today to apply for overdraft protection for your business. 


*Federal Law, Regulation D (204.2(d)(2)), prohibits more than six (6) automatic transfers from a savings account per calendar month. Account charges will apply if the number of transfers exceed savings account parameters.