Overdraft Protection | BMO Harris

What is overdraft protection?

These are optional services that let you link your BMO Harris savings, money market of other checking report or Line of Credit as a backup to your checking report to cover an overstate score .
BMO Harris offers two types of Overdraft Protection Services to help protect you from paying Overdraft or Item Returned fees. These are Overdraft Funding and Overdraft Protection Line of Credit .
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Your options for handling overdrafts:

Overdraft Protection Services
Overdraft Program for ATM and Everyday Debit Card Transactions Overdraft Funding, footnote 4, terms and conditions

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Overdraft Protection Line of Credit
Who is it for?
Who is it for ?
  • Certain checking account customers can opt-in to this program if they are comfortable overdrawing their account and paying the fees associated with ATM and everyday debit card transactions
  • Customers who have a companion checking, savings or money market account to link to cover overdrafts
  • Customers who apply for, and are approved for, a line of credit that can be linked to cover overdrafts
How it works
How it works
  • If you choose to opt-in:
    • At our discretion, we’ll pay ATM and everyday debit card transactions that would overdraw your account
    • Even if we’ve done so before, we don’t guarantee that we’ll always pay or authorize all transactions
  • If you revoke your opt-in (in other words, you choose to opt-out), footnote 5, terms and conditions5:
    • We’ll decline ATM and everyday debit card transactions that would overdraw your account
  • Money transfers automatically from your linked BMO Harris savings, money market or other checking account to cover your overdraft
  • Transfers are subject to funds availability and transfer limitations
  • Accesses your line of credit automatically in increments of $10 to cover the overdrawn amount up to your available credit limit
What it costs
What it costs *
  • If you choose to opt-in:
    • You will be charged a $36 fee for each item we pay (regardless of the amount of the item) when your account is overdrawn more than $50 after all items are posted to the account
    • We will charge a maximum combined total of three Overdraft Fees and/or Item Returned Fees (NSF) per business day, footnote 6, terms and conditions6
  • If you revoke your opt-in (in other words, you choose to opt-out), footnote 5, terms and conditions

    5:

    • No Overdraft Fee or Item Returned Fee (NSF) will apply to ATM and everyday debit card transactions
  • $10 Overdraft Funding Transfer Fee
    • One fee per transfer, one transfer per business day, footnote 6, terms and conditions6
    • The fee is included in the amount transferred if there are sufficient funds available
    • This fee is waived for transfers into BMO Harris Premier™ Accounts, BMO Harris Portfolio Checking® and Wealth Checking accounts
  • $10 Advance Fee
    • One fee per advance, one advance per business day, footnote 6, terms and conditions6
    • This fee is waived for transfers into BMO Harris Premier™ Accounts, BMO Harris Portfolio Checking® and Wealth Checking accounts
  • A fixed 18% Annual Percentage Rate (APR) applies to outstanding balances
  • $15 Late Payment fee
How to apply
How to apply
  • Opt-in or opt-out of this program by:
    • Logging in to BMO Digital Banking and modifying your overdraft selection within the “Account Preferences” section
    • Calling us at 1-888-340-2265 
    • Speaking with a BMO Harris Banker at any branch
  • Speak with a BMO Harris Banker by calling 1-888-340-2265 or visiting your nearest branch
  • Complete an application in person at a branch or over the phone by calling 1-888-340-2265 

Overdraft Protection Services can help you save on fees

Without Overdraft Protection Services, you pay: $36 per item, no more than 3 charges per business day6
With Overdraft Funding, you pay: $10* per transfer, one transfer per business day6
With Overdraft Protection Line of Credit, you pay: $10* per advance, one advance per business day6

Plus, it costs you nothing to add these services to your account and you only need to pay when you use them.

Want to learn more?
We ’ ra here to help you choose the best overdraft Protection Services for you :

  • Visit bmoharris.com/overdraft
  • Call us at 1-888-340-2265 
  • Visit us at your nearest BMO Harris branch

, footnote * even if your score has an Overdraft Protection Service, the fees listed on the Fees pill for overdrawing your account still apply if you do not have sufficient available funds or credit rating handiness for us to make a transfer or an advance. If you have Overdraft Funding, the fees listed on the Fees yellow journalism besides apply if you do n’t have sufficient available funds to pay the Overdraft Funding Transfer Fee or if we are unable to transfer funds for all items that overdraw the report due to the transfer limitations. If you have an Overdraft Protection Line of Credit and do not have sufficient credit handiness to cover an item ( second ), the item ( mho ) will be returned, and Item Returned Fees would apply., footnote 1, terms and conditions 1

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