How to Set Up Overdraft Protection Online
Set up overdraft protection on your checking account so transactions go through even when your balance is low.
Steps
- 1
Sign into your online banking
account and find the "Services" or "Account Settings" menu.
- 2
Look for "Overdraft Protection"
or "Overdraft Coverage" in the account options. It may be under "Security" or "Account Services."
- 3
Choose your funding source
for the protection. You can link a savings account, credit card, or a line of credit.
- 4
Set the transfer amount and threshold.
Many banks let you choose how much transfers when your balance drops below zero.
- 5
Review any fees
before confirming. Overdraft transfers from savings are often free, but credit card advances have fees.
Frequently Asked Questions
Is overdraft protection required?Show
No, it is optional. You can decline overdraft protection and your bank will decline transactions when your balance is too low.
What happens if I do not have overdraft protection?Show
Transactions that exceed your balance are declined. You may still face a non-sufficient funds fee from your bank.
Does overdraft protection cost money per transaction?Show
It depends on your bank. Some banks charge a small transfer fee, while others offer free transfers from a linked savings account.
Can I turn off overdraft protection later?Show
Yes, you can disable it anytime in your account settings. Changes take effect immediately for future transactions.
Related Guides
Written by the HowToDoStuff.online editorial team. Last updated .