What is overdraft protection?
Overdraft protection helps cover transactions when there isn’t enough money in your checking account.
Instead of a transaction being declined - or triggering an overdraft fee - funds are automatically transferred from a linked account to cover the difference.
Learn more about managing your checking account
How it works
- Link your checking account to another Equitable checking or savings account
- If your balance runs short, funds are transferred automatically
- A $5 transfer (sweep) fee applies each time the protection is used
When might this be helpful?
Overdraft protection isn’t something you use every day - it’s there for the moments you don’t expect.
You might consider it if you:
- Have automatic payments scheduled (subscriptions, bills, utilities)
- Occasionally run close to your balance between deposits
- Want to avoid declined transactions or interruptions
- Prefer a lower, predictable fee instead of potential overdraft charges
- Like having a backup plan in place for peace of mind
Common questions