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Overdraft transfer

Cover your caisse Personal Chequing Account (PCA) or any other eligible account if there are insufficient funds in your account, using your Desjardins credit card.

Features

How it works

Once you add the overdraft transfers to your account, the transactions that exceed your account balance are still authorized. A cash advance on your Desjardins credit card1 automatically covers your account at the end of the business day.

Who is this for?

For members who want:

  • to avoid account overdraft charges and the inconveniences of a temporary lack of funds.
  • more leeway in managing their personal finances.

Advantages

  • Avoid account overdraft charges and the inconveniences of a temporary lack of funds in your account.
  • No sign up fees, no monthly fees and no transaction fees.
  • Interest charges for cash advances on your Desjardins credit card are lower than NSF charges.
  • Helps maintain your credit rating, which financial institutions check when you apply for a loan.

Eligible accounts

The following individual and joint accounts2 are eligible for overdraft transfer3 regardless of the caisse where they were opened:

Eligible transactions

The service is like a safety net when you make the following transactions:

  • cheques
  • bill payments
  • direct payments
  • loan payments at your caisse4
  • withdrawals
  • direct withdrawal (automatic preauthorized withdrawals in your account)
  • transfers between 2 accounts

Any transactions associated with your account overdrafts are listed on your monthly statements.

Balance

The amount of the cash advance used to cover your overdraft will be added to your Desjardins credit card. You can pay the balance any time at an ATM, on AccèsD Internet or AccèsD Telephone, or at your caisse.

Maximum amount permitted

Corresponds to the authorized credit limit on your Desjardins credit card at the time the advance is required, and to a maximum of $5,000 per day.

Interest rate

  • Cash advances are subject to the same interest rate as your Desjardins credit card.
  • If you think you won't be able to pay the balance of your Desjardins credit card, apply for a low interest rate card to reduce your interest charges.

Flexibility

You can add or opt out of the service at any time.

Register for the overdraft transfer

* Certain conditions apply.

1. Service may be suspended due to a number of factors, such as the available credit limit for overdraft transfer, the card conditions, or applicable credit and security rules (e.g., if amounts put on hold for pending transactions result in the credit limit being reached, or payment of an amount owing on the card is unduly late). Where appropriate, service is reinstated once the situation is resolved.

2. Certain accounts cannot be linked to a Desjardins credit card.

3. Accounts held in a Desjardins caisse only.

4. To make loan payments with the overdraft transfers, you must first contact your caisse to make the required changes to your file.

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