Safeguard Your Funds
with Overdraft Protection
Bouncing a check is a common oversight. Maybe you forgot to record a couple purchases in your register and splurged on something new, realizing too late that you withdrew more money than you had available in your account. When this happens, it's called an overdraft. Many financial institutions and retailers charge fees for overdrafts, which can make a dent in your wallet.
Real-Life Example
Let's say you forgot to deduct a previous purchase and have only $50 in your checking account. You use your debit card to buy $100 worth of items at the mall and write a check for $10 at the bakery. These two purchases have caused you to overdraft your account by $60. If charged an overdraft fee of $40 for each transaction, the total amount owed would be $140 ($60 for the amount you over drafted and $80 for the two transactions). Plus, retailers may charge you $25 to $30 per transaction, and may not allow you to write checks there in
the future.
Because overdrafts happen to most people at some point, Chaco helps protect you by offering an overdraft protection program.
How It Works
With overdraft protection from Chaco, your check or debit card purchases will be covered so you won't owe a returned check fee to the retailer. We cover the overdraft to keep the funds from bouncing, but charge you a nominal fee. The expense will be less than what you could expect with bounced check fees. And, you'll protect your reputation with the retailer.
Learn More
To keep overdrafts to a minimum, update your check register regularly, record electronic transactions (ATM withdrawals, online purchases, etc.) and review your monthly account statements to determine how much money you have to work with. To learn more about overdraft protection from Chaco, call 513-785-3500 or stop by a branch to speak with a representative.
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