Adding an overdraft product to your account is now even easier! Call our Virtual Services team or your Financial Consultant at 1-877-WESTOBA (937-8622) and they will add overdraft to your account over the phone. No need to visit a branch!
What is an overdraft?
An overdraft is a loan, or source of funds, unsecured and accessible by you as needed to provide overdraft protection. Once qualified, you can borrow up to a predetermined limit.
There is no monthly fee for overdraft. If you use your overdraft, you will pay a $5 activation fee and interest on the borrowed amount.
Who can I qualify?
To qualify for an overdraft, you must:
- Be 18 years of age.
- Reside in Canada or have a permanent residency status.
- Agree to direct payroll deposit to your primary CDN chequing account.
- Have a minimum annual income of $12,500.00.
- Be discharged from any bankruptcies for at least 3 years.