Getting an overdraft fee can be a painfully expensive experience. As if it wasn’t bad enough that you ran out of money, you now have to deal with the fact that you owe even more money because of it. Bank of Internet knows how annoying overdraft fees can be and is offering free overdraft protection as part of their Rewards Checking accounts.
With Bank of Internet Rewards Checking you have two options to protect your bank account from overdrafts. You can either choose to protect your account via a line of credit, or by linking your Rewards Checking to an online savings or money market account.
Bank of Internet will advance funds to your account if you run out of money. They will continue to advance the funds into your account, without charging a fee, up to the limit of your line of credit.
If you would rather depend on another account instead of a line of credit, you can do that too. By linking your account to an online savings or money market account, funds will be transferred to your Rewards Checking in the event of an overdraft.
Setting up overdraft protection for your Rewards Checking is as easy as a few clicks. If you don’t have a Rewards Checking account with Bank of Internet, you should open an account today. If you enjoy easy and convenient online banking, and tools and services to help you save your money, Rewards Checking is definitely the way to go.