HSBC Overdraft Protection provides you with coverage for occasional shortfalls in your HSBC Chequing account1, giving you peace of mind that results from knowing that your cheques, pre-authorized payments or other transactions such as cash withdrawals or Interac® e-transfers and Point of Sale transactions will be honored up to your approved overdraft limit. Feel comfortable knowing that funds are going to be available for emergencies and unexpected expenses.
Automatic coverage when your account is overdrawn up to your approved overdraft limit.
Convenient repayment - deposits are automatically applied towards your overdrawn balance.
Transactions within your approved limit are covered – pre-authorized debits such as your mortgage, car or insurance payments, domestic and foreign ABM withdrawals Interac® e-transfers, Point of Sale purchases, cheques issued and transactions you may complete at an HSBC Branch.
Pay only when you use it – a $5 fee will be charged only in the months you are overdrawn3.
Overdrawn balances are charged a 21% per annum interest rate, calculated daily and charged monthly.
Once approved for HSBC Overdraft Protection, there is no need to take any further action - you only pay for the service if you need to use it.
Submit your application online to apply for HSBC Overdraft Protection today.
Overdraft protection is subject to standard credit approval.
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1 In addition to the Overdraft fees which are set out in the Credit Agreement - Line of Credit or Overdraft, HSBC Chequing account service charges apply. Details of applicable service charges can be found in the Personal Service Charges/Statement of Disclosure. Terms and conditions of the Credit Agreement – Line of Credit or Overdraft and Personal Banking Agreement apply.
2 HSBC Overdraft Protection is subject to standard credit approval.
3 Overdrawn balances are charged at a 21% rate per annum, charged monthly. $5.00 fee applies in each month in which your account is overdrawn a day or more.
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