An overdraft happens when you don’t have enough money available to cover a purchase or a payment. In other words, an overdraft happens when a transaction exceeds your available balance. When this happens, the transaction can either be paid for you, by overdrawing your account, or it will be declined and returned unpaid.
Balance Connect® allows you to link other eligible Bank of America® bank accounts to help cover transactions and help avoid overdrafts and overdraft fees using your own available funds. Go online or use the Mobile Banking app2 to choose the order of the accounts we use to cover your transactions, for more control all in one place.
Help protect your business from overdraft fees by linking eligible Bank of America accounts, such as another checking or savings account.
Cover your payments and purchases by automatically transferring money from your linked backup account(s) when needed.
There is no overdraft protection transfer fee.3 This optional service can help you cover your payments and purchases, and help avoid overdrafts and overdraft fees by automatically transferring available funds from your linked back-up account(s) when needed.
An overdraft protection transfer is made with no transfer fee.3
Cost: $0
Overdraft fees are charged for each of the two payments.
Cost: $20