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Linked Account

Is linking your accounts the best overdraft solution for you?

Linked Accounts Pros

  • Avoid non-sufficient funds and additional overdraft fees
  • Balances are FDIC insured to the maximum allowed by law
  • No credit approval required
  • No interest charged on overdraft advances
  • For certain linked accounts, interest is earned
  • For SavingsLink, no monthly service charge or minimum balance requirements

Linked Accounts Cons

  • Need to have and maintain sufficient balances to cover potential overdrafts
  • Small transfer fee for each overdraft advance
  • For savings and money market accounts, an excessive transaction fee may be charged if certain transactions exceed six during any calendar month
  • Account may be converted to a non-interest bearing account if transaction limits are frequently exceeded
  • Other than SavingsLink, a monthly service charge will incur if the waiver requirements are not met
Eligible Account Types: Checking, savings, money market
Minimum Opening Deposit: Varies by product
Approval / Eligibility: ChexSystems
Limit: Linked account(s) balance
Monthly Service Charge: Varies by product
Ways to Waive Service Charge: Varies by product
Interest Rate / Finance Charge: View our Interest Rates
Other Fees:
  • Overdraft transfer fee - $7.00 per transaction
  • Excess transaction fee - $15.00 (savings and money market accounts only)
Account Requirements / Restrictions:
  • A personal checking account
  • Limited to six withdrawals and/or transfers per month*
    (savings and money market accounts only)
  • Transfers are for the exact amount overdrawn except SavingsLink
    (transfers in increments of $50.00)
  • Account ownership must be the same on the linked account(s)

* These transactions include transfers or withdrawals by means of a preauthorized, automatic, or telephonic transfer to another account or to a third party or by debit/ATM card, or similar order to a third party during any calendar month (or statement cycle of at least four weeks).

Set up Overdraft Protection by calling 1.800.797.6324 or visit a Mechanics Bank office.

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