Overdraft Protection

Take positive steps to guard against negative balances.

Avoid returned check fees. You have other options.

It can happen to anyone. You make a math miscalculation, forget that you made a certain purchase, or experience a delay in getting paid. When that happens, your checking account balance can dip down below zero. At Berkshire Bank, we have several programs that ensure that your purchases go through and that you're not subject to merchant fees for having insufficient funds.
 

Standard Procedure

  • With Courtesy PaySM, we will generally cover checks and other transactions made using your checking account number
  • We'll also cover automatic bill payments
  • Unless you specifically ask us to, we won't cover ATM transactions or everyday debit card transactions
  • We'll charge you a $37 fee every time we cover an overdraft

Automatic Transfer Service

  • Set up automatic transfers from your savings or Money Market account to your checking account.
  • Use an established business line of credit account or fund transfer from a designated asset account.
  • We'll charge you $10 for each transfer to pay an item from your linked Berkshire Bank deposit account.
  • If you exceed the maximum number of 6 withdrawals from a statement savings or Money Market account, you will be charged $15 for each time you exceed the limit.

Reddi Cash

  • Apply for a personal line of credit, for use as overdraft protection.
  • Reddi-Cash automatically transfers money to cover checking account shortfalls.
  • This personal line of credit is subject to credit application and approval.
  • Apply Online for Reddi Cash
You need to bring your account balance positive promptly, or upon our demand. In addition, a Continuous OD (Overdraft) Fee of $35.00 will be imposed every five (5) business days until you bring your account positive. This fee is applied to your account when it has been overdrawn for five (5) or more consecutive business days. A maximum of five (5) charges or $175 will be charged for each time period your account remains in a negative status. Other fees can lead to a negative balance, which can lead to additional fees. If you are not able to repay as we require, you will receive a letter informing you of your options. If, after a period of time, your account has not been brought into a positive balance, we will have no option but to close your account and take steps to recover the funds.

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