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Overdraft transfers

Avoid account overdraft fees. Use your credit card to make sure your account isn't overdrawn.

Protect your account from overdrafts

An overdraft transfer uses cash advances from your credit card to protect your account. 1

  • No sign up fees, monthly fees or transaction fees
  • Automatic transfers to cover overdrafts
  • No additional credit application required
  • Easy to quickly add the service to your account

What's an overdraft?

An overdraft occurs when your account balance is less than 0. For example, if a $1,500 preauthorized withdrawal is debited from your account when the balance is $1,000, your account is then overdrawn by $500.

If there aren't sufficient funds in your account, the following transactions can lead to an overdraft:

  • Payments by cheque
  • Bill payments
  • Direct payments
  • Loan repayments at a caisse 2
  • Withdrawals
  • Direct withdrawals (pre-authorized payments automatically withdrawn from your account)
  • Transfers between accounts

What's an overdraft transfer?

Overdraft transfer lets you link your account to your credit card. This means that, if your account is overdrawn, a cash advance from your credit card automatically brings the balance back to zero.

By signing up for this service, you avoid the inconveniences of being low on funds and having to pay account overdraft fees, such as fees for:

  • NSF cheques
  • Funds transfer from a Desjardins caisse to cover the overdraft

See service fees

Good to know

  • Interest charges on cash advances start on the day of the transfers.
  • NFS cheques and late payments can negatively impact your credit rating.

Interest rates

Your credit card's interest rate applies to cash advances used for overdraft transfers.

With this in mind, consider a low interest card, such as the Flexi Visa*.

How it works

If your account is overdrawn, a cash advance on your credit card automatically covers your account. This amount is added to your credit card balance.

Eligible accounts

You can link all your eligible everyday accounts (personal or joint) 3 to your Desjardins credit card, even if they were opened at different Desjardins caisses.

Although no longer offered, the high-yield account is also eligible for overdraft transfers.

All your overdraft transactions are on your monthly statements.

Maximum amount

Up to $5,000 1 a day, depending on your credit card and its authorized limit.

Repayment

You can pay off your balance at any time at an ATM or on AccèsD.

How to get the overdraft transfer service

To get the overdraft transfer service, you need a web browser. The mobile app doesn't have this feature.

  1. Log in to AccèsD.
  2. Select More options in the right-hand menu.
  3. Select Overdraft protection.
  4. Select Overdraft transfer.
  5. Select the account you want to link to your credit card.
  6. Select Add.
  7. Select the credit card you want to use for overdraft transfer.
  8. Select Validate, and then on Confirm.

Is this financing product right for you?

Other financing products can provide overdraft protection. Use our selector to find the best one for you.

FAQ

How do I opt out of the overdraft transfer service?

To opt out of this service, you have to use a browser. The mobile app doesn’t have this feature.

  1. Log in to AccèsD.
  2. Select More options in the right-hand menu.
  3. Select Overdraft protection.
  4. Select the account linked to your credit card.
  5. Select Delete
  6. Select Confirm.
How do I increase my overdraft protection limit?

The overdraft transfer service is linked to your credit card. Your overdraft limit is actually your credit card limit.

To increase this limit, you have to apply for a credit limit increase in AccèsD.

  1. Log in to AccèsD.
  2. Select your credit card.
  3. Select Manage card.
  4. Select Manage account.
  5. Under Account management, choose Increase credit limit in the left-hand menu.

Keep in mind that the daily limit for overdraft transfers is $2,500 or $5,000, depending on your credit card and regardless of your credit card limit.

Can I use the overdraft transfer service if I have a line of credit?

No. You can't add the overdraft transfer service to an account that has a line of credit. If your account is overdrawn, your line of credit is used to bring the balance to zero.

Contact us

By phone

Monday to Friday: 7 AM to 9 PM (Eastern Time)
Saturday and Sunday: 8 AM to 6 PM (Eastern Time)

* Trademark of Visa International Service Association and used under licence. 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 (for example, 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. To make loan payments with overdraft transfers, you must first contact your caisse or credit union to make the required changes to your file. Certain accounts cannot be linked to a Desjardins credit card.