Personal Overdraft Protection

Checking Account Overdraft Options

Personal Overdraft Line of Credit, for qualified applicants
Automatic Transfer from your Merchants Bank savings account*
Automatic Transfer from a second Merchants Bank checking account
Automatic Transfer from your Merchants Bank Home Equity Line of Credit

Personal Overdraft Line of Credit

Available to qualified applicants
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

Apply Nowfor overdraft line of credit

Automatic Transfer from Personal Savings* or Checking

Transfers will be in the amount of the overdraft, plus a nominal transfer charge
Savings accounts are eligible for this service include Basic Savings, Advantage Savings and Diamond Money Market

To add automatic transfer to your account, contact any Merchants Bank location.

Automatic Transfer from Home Equity Line of Credit

Transfers will be in the amount of the overdraft. To add automatic transfer to your account, contact any Merchants Bank location

* Account charges will apply if the number of transfers exceed savings account parameters.

** Interest charge is determined by applying the periodic rate to the daily balance of your Credit Line for each day of the billing cycle. If you do not make your payment within 10 days after the Payment Due Date shown on the voucher that you receive with each credit advance, in addition to our own rights in default, we may charge you 5% of the unpaid amount of the payment or $7.80, whichever is greater.