UCU Business Overdraft Protection

Avoid declined payments and NSF fees with UCU Business Overdraft Protection. This financial buffer for your business chequing account automatically covers debits that exceed your available balance, up to a predetermined limit. This ensures your essential payments like cheques, debit card purchases, and electronic transfers are not declined.
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UCU Business Overdraft Protection features

Manage business cash flow

Bridge short-term cash flow issues

Business credit rating

Protect your business credit rating from overdrafts

Pay interest on amount used

Interest is calculated on the outstanding balance

Flexible payments

Minimum monthly interest-only payments required

Automatic paydown

Balance is automatically paid down with each deposit to the chequing account

Use it when needed

Available pre-approved limit can be reused

Business Overdraft Protection: FAQs

Business Overdraft Protection acts as a safety net for your business chequing account, helping you avoid the inconvenience and potential fees associated with Non-Sufficient Funds (NSF).

Here’s how it works:

  • Predetermined Credit Limit: Business Overdraft Protection provides a pre-established credit limit set by UCU.
  • Automatic Coverage for Overdrafts: When a debit transaction attempts to withdraw funds exceeding your available chequing account balance, Business Overdraft Protection automatically kicks in, covering the shortfall up to the predetermined limit. This ensures the transaction goes through, preventing NSF fees and potential disruptions to your business operations.
  • Avoid NSF fees: Overdraft Protection protects you from potentially expensive Non-Sufficient Funds (NSF) charges.
  • Maintain business continuity: Ensure your essential payments, like cheques, debit card purchases, and electronic transfers, are not declined due to a temporary cash flow shortage.
  • Peace of mind: Knowing you have a safety net can give you peace of mind and help you manage your cash flow with more confidence.

Contact your UCU branch or business relationship manager to discuss eligibility and enrollment options for Business Overdraft Protection.

There are fees associated with Overdraft Protection. See the UCU Service Fee schedule for the current fees.

No. Business Overdraft Protection is a service attached to a business chequing account that covers a debit shortfall up to a predetermined limit. A line of credit is a separate loan product that provides access to revolving credit.

Business Overdraft Protection can be a valuable tool for businesses that experience occasional cash flow fluctuations or want to avoid NSF fees. Discuss your specific business needs with your UCU business relationship manager to determine if overdraft protection is right for your business.

Contact your local UCU branch or business relationship manager for more information and to discuss if UCU Business Overdraft Protection is right for your business.

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