Overdraft Protection Is Now Available Over The Phone

Date: April 6, 2020

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.