Overdraft Protection

Help cover unexpected cash shortfalls with overdraft protection.

Add Overdraft Protection to your Alterna everyday banking account and enjoy the peace of mind of knowing you’ll have access to extra funds when you most need them. You’ll no longer have to worry about not having enough money in your account to clear outstanding cheques, pre-authorized debits and point of sale transactions as your overdraft protection will automatically come into effect up to your approved overdraft limit.

The application process is simple and with credit limits ranging from $500 to $5000 you can customize your overdraft protection to best meet your needs. 

Other Important Information:

  • Repayment is as easy as making a deposit to your overdraft protected everyday banking account
  • Low monthly fee of $2.50
  • Annual interest rate of 19.99%
  • Application is subject to credit approval
  • Conveniently access your overdraft limit through all channels linked to your chequing account (bill payments, cheques, point of sale, pre-authorized debits etc.)

If you have an Alterna Line of Credit or Secured Line of Credit, you can also set these up to provide overdraft coverage on your Alterna chequing account.

There are three easy ways to apply.
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