Overdraft Protection makes funds available if and when you need them, like a financial safety net. Once you have been approved, if you run short of funds, Overdraft Protection will be there to cover you up to your approved limit, which could be as high as $5,000. Overdraft Protection does not have a set payment schedule however the account must be brought to a positive balance within an 89 day period.
With a First Nations Bank overdraft you can make cash withdrawals, write cheques, or make Debit Card transactions and purchases without worrying about transferring funds or late deposits.
Once a limit is established, you can "overdraw" your chequing account up to an approved limit. As a customer you only pay interest on the money you use; for the amount of time you use it.
Overdraft Protection costs just $4.00 a month. A full year of protection can cost less than an NSF fee on just one cheque!
Click here to apply for Overdraft Protection.