When it comes to protecting your checking transactions, we’ve got it covered.
With our Overdraft Assurance, you have the confidence of knowing most of your checking transactions† will go through – even if there’s a temporary negative balance in your account.
Better yet, this protection applies automatically to your checking account when you don’t have Overdraft Coverage††. So there’s no need to worry.
Overdraft Assurance applies to all types of overdraws on your account, including:
- Point-of-sale and recurring debit card transactions
- Electronic funds transfers
- ATM withdrawals and transfers
To qualify, accounts must be open for 60 days and maintain a $200 average balance.
Terms & Conditions
- We honor up to $600 beyond your available checking account balance.
- Overdraft fees charged to the account will reduce the available limit.
- After one day, a continuing insufficient funds fee of $11.00, plus $0.75 per $1,000 per day, will apply to overdrawn account balances.
- Negative balances must be returned to a positive balance within 30 days to avoid loss of Overdraft Assurance and closing of your account. (Future overdraft items may be returned unpaid. An overdraft fee is charged regardless of whether a check or item is paid or returned).
†Does not apply to Cash Management or IOLTA/IORTA accounts.
††Overdraft Coverage has a $5.00 fee per transfer.
Note: Merchants Bank retains the discretionary right not to honor any transactions or checks at any time. The Bank will pay NSF items presented against the account if:
- The product has not been removed.
- You are not in default to the Bank on any loan or other obligation to us.
- Your account is not subject to any type of legal process or order.
- Your account has not had excessive overdrafts.
- Merchants Rewards Checking
- Merchants Business Checking
- Merchants Business Plus Checking
- Merchants Commercial Checking
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