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What is Overdraft Protection?
If you don’t have enough money in your Protected Account to cover a payment or withdrawal, ODP may cover your payments or withdrawals up to your Overdraft Limit. This includes returned Payment Instruments (as defined in the Financial Services Terms), service fees, and interest charged.
Monthly Plan Overdraft Protection
- $4 per month
- One low monthly fee regardless of how often you use overdraft (plus 21% interest per year on overdrawn amount)
Pay As You Go Overdraft Protection
(Not available on Quebec accounts)
- $5 per use
- Only pay when you use overdraft. The most you’ll pay in one day is $5 (plus 21% interest per year on overdrawn amount)
>> Add Overdraft Protection to your chequing account now
Visit our Overdraft Protection page to view the features and benefits of Overdraft Protection.
Please note that the answers to the questions are for information purposes only for the products discussed. Individual circumstances may vary. In case of discrepancy, the documentation prevails.