Overdraft

What is Overdraft?

Your ONE account provides access to a low-cost, flexible credit through Overdraft. 

• To get access to Overdraft, fund your ONE account with a single deposit of at least $20.
• Overdraft connects to your Spend Pocket to cover purchases that take your balance below $0.
• Overdraft is automatically repaid with deposits into your Spend Pocket.
• If a balance is carried into the next month, we charge you 1% interest a month, 12% Annual Percentage Rate (“APR”).
• The maximum Overdraft limit for all customers is $200.
• You can enable or disable Overdraft directly in your Spend Pocket.

Does it cost me anything to use Overdraft?

Overdraft kicks in when your Spend Pocket drops below $0.00. Overdraft begins accruing interest at 1% per month, or 12% Annual Percentage Rate (“APR”)*, at the time of an Overdraft transaction. You will not be charged interest on Overdraft if you repay it in full by the end of the same calendar month in which you initiated the transaction(s). Any negative balance, including billed interest, will be automatically paid down with the next deposit into your Spend Pocket.

This article is intended for ONE customers who currently have an active Overdraft product.