Long-term shortfall coverage.
If you've ever found yourself racing to make a rush deposit to cover payroll or a large invoice, overdraft protection will save you a lot of effort. Not to mention embarrassment.
It's (unfortunately) an inescapable law of business; accounts receivable don't always arrive when they're supposed to. Which could mean an occasional disconnect between cash inflow and expense outlay. Overdraft protection can help eliminate that by providing an automatic safety net.
In the event a cheque or pre-authorized payment causes your account balance to dip below zero, we cover the shortfall, up to your overdraft limit, until your next deposit. You're only charged interest on the overdraft amount for the period of time the funds are needed. A modest $5 monthly fee is a small price to pay for ensuring your peace of mind, knowing your good financial standing will be maintained.
- Overdraft protection up to $5,000* is available for greater control over your day-to-day cash flow.
- Cheques will be honoured if you're overdrawn, provided you're within your overdraft limit.
- Access your funds through your Access Card - pay bills, make purchases, or obtain cash advances (only for accounts requiring a single signature).
- Pay interest only on the amount you use.
- No set-up fee is charged when you apply for the protection within 30 days of opening your primary business account.
- Monthly fee of $5.