Business Overdraft Protection

Understanding Overdrafts

An overdraft occurs when you do not have enough money in your account to cover a transaction, and the bank pays the transaction on your behalf. You then must pay back the amount your account was overdrawn, plus overdraft fees your bank charges for covering the transaction.

What you should know about overdraft fees:

Banks can charge you for each overdraft, which means you could incur multiple overdraft fees in one day.
Deposits, withdrawals and other transactions do not always update your account balance immediately, or in the exact order they occurred.

At Banner Bank, we encourage you to track your balance carefully to ensure you have enough money to cover your transactions and avoid overdrafts. You can monitor your account with ease by:

Using Banner Bank Business Online Banking^‡and our Banner Bank Mobile Banking^‡ app to monitor your account. Learn how by watching our Enroll in Online Banking demo.
Setting alerts to inform you when your account balance is low. Learn how by watching our Set Up Alerts demo.
Verifying your account balance by calling Banner Bank-By-Phone (800-527-6435) at any time.

Keeping enough money in your account to cover planned expenses plus a little extra for those unexpected expenses is key to avoiding overdrafts. When monitoring your account it’s important to know when prescheduled electronic transfers, such as rent, mortgage payments or utility bills, will be debited, and how much they will be. Likewise, it’s also important to know when the money you deposit will be available for your use.

You can watch interactive demos to learn how Banner Bank’s online and mobile banking features can help you manage your finances anywhere, anytime.

Protecting Your Account

We offer overdraft protection for times when there are not enough funds available in your account to cover the amount of a transaction.

You can opt-in to overdraft protection and link your other Banner Bank business checking accounts, savings accounts, or personal lines of credit to your protected account so funds from those accounts can be transferred to prevent overdrafts on the protected account.^Γ
If you choose not to opt-in to overdraft protection, ATM and debit card transactions that would cause an overdraft will automatically be declined. Paid transactions resulting in an end-of-day overdrawn available balance of $5 or less will not be charged an overdraft fee.

Banner Bank provides two primary options for overdraft protection:

Link your Banner Bank business savings and checking accounts

Should your protected account become overdrawn, funds will be transferred from your linked account in $25 increments. A lesser amount may be transferred if your protected or linked account balance is not sufficient to satisfy a full $25 increment.

Link your Banner Bank business line of credit and protected accounts

Link your Banner Bank business line of credit^Γ to the account you want to protect. Should your protected account become overdrawn, funds will be transferred from your linked business line of credit in $25 increments. A lesser amount may be transferred if the available balance of the business line of credit is not sufficient to satisfy a full $25 increment.

You can also refer to the Funds Availability section of our Deposit Account Agreement to learn more about how and when funds are posted to your account.

If you need help managing your finances, we recommend visiting the Federal Trade Commission's webpage regarding Consumer Information on Money & Credit.

‡

Message and data rates may apply. May require authentication, registration, and/or activation.

Overdraft protection by line(s) of credit subject is to credit approval and limited to residents of Washington, Oregon, Idaho or California, or to current Banner Bank deposit clients.