Overdraft Protection

FAQs

What is overdraft protection?​

Overdraft protection is an optional service that allows some transactions to process on your account even if the available funds are not there, so that you do not get a declined transaction.​

Not all transaction types are covered by overdraft protection, see the Overdraft Protection Terms for details.

How do I enroll in overdraft protection?

Log into your spendwell^® account and click on Money Out, then click on Overdraft Protection. You will then have to read and agree to the Terms & Notice. If you meet eligibility requirements, you will be enrolled.

If I meet eligibility requirements, how soon can I use overdraft protection?​

Once you have met all eligibility requirements, your participation in overdraft protection will be activated within twenty-four (24) hours.​

Do I need to maintain direct deposit while enrolled in overdraft protection?​

Yes, you must receive $200 in direct deposit every 35 days to stay enrolled. Please see the Overdraft Protection Terms for details.​

What happens if my overdraft is not authorized?

If we do not authorize and pay an overdraft, your transaction will be declined.

Are there fees for using overdraft protection?

Yes, we will charge a $15.00 overdraft fee if you overdraw your account by more than $10.00 (via one or multiple transactions) if it is not paid back within 24 hours.​

​Please see the Overdraft Protection Terms for more details on overdraft protection fees.

What are the requirements to enroll (or re-enroll) in overdraft protection?

Main accountholders are eligible to opt-in for overdraft protection if they meet certain requirements:​

• Must have a positive available account balance ​

• Must have received direct deposits totaling $400+ in the past 35 days ​

• Must have activated a personalized spendwell card​

Please see the Overdraft Protection Terms for additional details.

How do I un-enroll from overdraft protection?

You can opt-out of overdraft protection at any time by logging into your spendwell account and clicking on Money Out, then click on Overdraft Protection, and click on Opt-out of overdraft protection. You can re-enroll in the future so long as you meet all re-enrollment eligibility requirements.

Why might my overdraft protection be suspended or not work?

Please see the Overdraft Protection Terms for details on why overdraft protection might be suspended or not work.

Are there limits to using overdraft protection?

There is a limit of four (4) overdraft fees we can charge you per monthly statement cycle. Overdraft fees are only charged if you overdraw your account by more than $10.00 (via one or multiple transactions) and do not pay it back within 24 hours. Overdrafts that do not incur a fee do not count towards the limit per monthly statement cycle. ​

Please see the Overdraft Protection Terms for more details on overdraft protection limits.