The Overdraft Protection Transfer is an optional service you can add to one applicable consumer Amalgamated Bank checking account by linking up to one eligible Amalgamated Bank savings account as early as at the time of account opening or anytime thereafter to pay overdrafts that may occur.
When an Overdraft Protection transfer occurs from a linked savings account to cover the authorization or payment of a transaction, the available balance in that savings account will be reduced by the amount of money to be transferred. That amount of money will be unavailable for other use, and it will be applied to the checking account during nightly processing.
(For more information refer to “Overdraft Protection Transfer”).
Convenience savings, online savings, and Give-Back Savings are eligible to enroll in Overdraft Protection Transfer.
To enroll/unenroll in Overdraft Protection Transfer please visit your local branch or contact customer service at 1 (800) 662-0860.
There is no cost to enroll in Overdraft Protection Transfer.
Yes. If you do not have sufficient balances in the enrolled savings account to transfer and cover an overdraft item, Amalgamated Bank may consider paying items utilizing the noncontractual courtesy of AB Overdraft Coverage for applicable accounts in “good standing” and if available (Refer to "AB Overdraft Coverage" section for more details on AB Overdraft Coverage and Fee Schedule for fees that may imposed).
No. You may only link one savings account that shares the same title and ownership as the checking account. (For more information refer to "Overdraft Protection Transfer").
You can sign up for Withdrawal Transaction, Overdrawn Account and Insufficient Funds alerts to manage your account. For more information refer to Amalgamated Account Alerts.
