Business Overdraft Services

Helping you manage the unexpected

Peace of mind of knowing your transaction may be covered should an overdraft occur.


Overdraft Protection Options

As a business owner, you have to deal with cash flow fluctuations, and occasionally, you may write a check or use a debit card when there are not enough funds in your checking account. Atlantic Union Bank’s overdraft protection solutions can give you the peace of mind of knowing that your transaction may be covered should an overdraft occur.

What is overdraft protection?

Overdraft protection options cover your business checking account transactions should your checking account become overdrawn. 

Overdraft Account Transfer

This is an optional overdraft protection program that allows you to link your primary business account to another checking, money market or savings account to cover insufficient funds if an overdraft occurs. The secondary account must contain the available funds to make the transfer.

Business Overdraft Line of Credit

This is an optional overdraft protection program that allows you to use a line of credit to cover insufficient funds if an overdraft occurs. Since Business Overdraft Line of Credit is a credit product, customers are subject to credit underwriting guidelines.

Overdraft Privilege

Business Overdraft Privilege

This discretionary program is included with certain types of business accounts (see the chart below). With Business Overdraft Privilege, the Bank will consider paying any transaction, including ATM and debit card transactions against non-sufficient funds. However, the decision is completely at the Bank’s direction, which means we do not guarantee that we will authorize and pay any type of transaction. If we do not authorize an overdraft, the transaction will be declined.

To help you better understand the overdraft services, please view the Business Overdraft Services chart below.

   Business
Overdraft Privilege

Overdraft
Account Transfer

Business Overdraft
Line of Credit
What fees apply? $38 per item
(non-sufficient funds and overdraft fees are not charged for items $1.00 or less or for items that cause an account balance to be overdrawn by $1.00 or less)
$12.50 per transfer $12.50 per transfer;
fixed 18.00% APR
How many fees can be charged in one day?  The maximum number of non-sufficient funds and overdraft fees will not exceed 8 in one day. 1 transfer fee per day
Transfers are made in the exact amount of the overdraft
1 transfer fee per day
Transfers are made in $100 increments
What accounts are eligible? The following business checking accounts are automatically enrolled:
Essential Business Checking
Enterprise Business Checking
Elite Business Checking
Any business that maintains another qualified Atlantic Union Bank business account.

Transfer amount is limited by available balance in the account
Overdraft Line of Credit is a credit service and subject to credit approval
What are the benefits?
  • Avoid additional merchant fees when items such as checks and electronic transactions are returned due to non-sufficient funds
  • May help cover the unexpected, when there is not enough money in your account to authorize and pay a transaction.
 
  • It’s easy! Funds are automatically transferred 
  • The most economical overdraft solution
  • It’s easy! Funds are automatically transferred
  • Minimum payment amount of 5% of balance or $20, whichever is greater
  • Line amounts up to $10,000

To learn more, contact your banker, visit a branch, or call us.

Contact a Relationship Manager

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