Personal Overdraft Protection

Protect your reputation and reduce personal expenses with Overdraft Protection. Choose from three levels of protection to help avoid the embarrassment of a declined transaction, as well as the high cost of overdraft fees.

Personal Sweep Overdraft Coverage

Enroll in Sweep Overdraft Coverage and designate a linked Merchants Bank account to automatically sweep necessary funds into your account to cover a temporary negative balance. It works by transferring money into your checking account from your Money Market Account, another checking, Home Equity Line of Credit, or combination of these.

$5.00 fee per transfer from a Money Market or other checking account. There is no fee to transfer from a Home Equity Link of Credit, but interest accrues on all funds borrowed from a Home Equity Line of Credit.

Personal Overdraft Safety Net*

Overdraft Safety Net is included with your eligible checking account.  Merchants Bank offers this service as an extra layer of overdraft protection to give you the confidence of knowing most of your checking transactions will go through – even if there’s a temporary negative balance in your account (does not apply to Health Savings Accounts).  If you qualify, Merchants Bank will honor up to $350.00 beyond your available checking account balance.

Overdraft Safety Net protection will apply to your eligible checking account even if you have not enrolled in Sweep Overdraft Coverage. Or, if you are enrolled in Sweep Overdraft Coverage, Overdraft Safety Net will apply once your Sweep Overdraft Coverage has been exhausted.$30.00 fee for each item that caused an overdraft, with a maximum of 4 items per day.

Overdraft Safety Net applies when any of the following overdraw your account:

  • Checks
  • Recurring debit card transactions
  • Electronic funds transfers
Personal Debit Card Overdraft Safety Net*

Declined debit card transactions are frustrating and embarrassing.  Opt in to Debit Card Overdraft Safety Net* to give you the confidence of knowing your transactions will go through - even if there’s a temporary negative balance in your account.

This would include:

  • Paying one-time debit card transactions
  • ATM withdrawals and transfers

2 Ways to Opt-in:

Due to a Federal regulation effective August 2010, we can not authorize or pay overdrafts on debit card transactions unless you opt in to Debit Card Overdraft Safety Net.* $15.00 fee for each item that caused an overdraft, with a maximum of 4 items per day.

Click here for Five Ways to Avoid Overdraft Fees.

*Safety Net Terms & Conditions

  • To qualify, accounts must be open for 60 days and maintain a $200 average balance.
  • Overdraft fees charged to the account will reduce the available limit.
  • Each item contributing to an aggregate overdraft balance greater than $10 will be charged $30 with a cap of four items charged in one day.
  • If your account is overdrawn for more than three consecutive business days, we charge a continuing overdraft fee for each business day your account is overdrawn.
  • Should your account become overdrawn by the use of this product, the Bank requires that the account be brought to a positive balance within 30 days. If that is not done, the Safety Net product will be removed from your checking account and future overdraft items may be returned unpaid. An overdraft fee is charged regardless of whether a check or item is paid or returned.