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What is Overdraft Protection?

Automatic Transfer Overdraft Protection is a service that automatically transfers funds to a checking account from a linked savings account to cover the cost of a transaction if sufficient funds do not exist in the checking account. For a per item fee, a transfer is initiated from the savings account to cover a check, pre-authorized charge, debit card transaction, or Point-of-Sale transaction that would, if honored by the bank, overdraw the checking account. There is additionally an annual fee for some account types to use this service. The fee is charged on July 1st of each year.  

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