Overdraft Transfer Service
Overdraft Transfer Service is a convenient way to let your savings account cover occasional overdrafts in your checking account.
Here's how it works:
- The service automatically transfers from your savings account to your checking account when your checking balance falls below zero.
- There is no annual fee for Overdraft Transfer Service, just a $3 transfer fee that is paid only when you use it.
- Federal regulations limit transfers on savings accounts. See the 1st Source Bank Fee Schedule disclosure for more information (pdf)
- If both accounts fall below zero, the bank charges you a fee of $36.00 each time you overdraw your account. In addition, a $7.00 per day will be charged starting the 6th business day that the account is overdrawn.
It's easy to sign up today:
- Open a new account or use your existing 1st Source EveryDay Interest Savings Account, Portfolio Investment Account, EveryDay Interest Select Savings Account or e-student Savings Account.
- Ask your banker to link your savings account to your checking account so you may enjoy the peace of mind that Overdraft Transfer Service provides.
Still have questions on how our Overdraft Transfer Service can help you? Just click on the Live Chat button, or call us at 1-800-513-2360.