At times, unanticipated expenses or unforeseen problems can leave you with too little cash in your checking account. Having a check returned due to insufficient funds can be a costly, inconvenient and potentially embarrassing experience. At Huron Valley State Bank we do not encourage overdrafts. As always, we encourage you to manage your finances responsibly. However, we want to save you from the additional merchant fees and possible damage to your credit history that might result if a check is returned. That’s why we provide several overdraft solutions such as an overdraft protection line of credit, a sweep from another account or Courtesy Coverage.
Overdraft Protection Line of Credit
Have peace of mind when it comes to managing your account with an Overdraft Protection Line of Credit. Subject to credit approval, this line of credit is linked to your checking account and will advance funds up to the approved credit limit in increments of $100 to cover any overdraft situations that may occur. There is no fee to advance funds, however, interest will be charged on the outstanding balance.
Discover the convenience and time savings of automatic Overdraft Sweep. Any time an item presented for payment on your checking account exceeds the balance, we’ll transfer the funds from a linked deposit account in increments of $100. Accounts that can be utilized to offer sweeps are checking, savings and money market accounts.*
*Federal regulations limit the number of the following types of withdrawals and transfers from a savings account to a total of six (6) each month: electronic debits, checks, automatic or pre-authorized transfers, online or telephone withdrawals.