Overdraft Protection
A safety net for when you've gotten in over your head.
Bank with peace of mind
No fees unless you overdraw your account - and then you pay a minimum charge of $4 or interest, whichever is greater.1
Save yourself the hassle
No non-sufficient funds (NSF) fees or holds. You can withdraw cash and make transfers and point-of-sale payments up to your authorized limit.
Repay on your terms
Pay your required payment or your entire balance. Like using a credit card, it's good practice to bring your balance back to black on a regular basis.
Frequently Asked Questions
Yes. Overdraft Protection can be applied for on a joint account. By sharing access to the account, you're also sharing responsibility for any transactions made by the other account holder. Both account holders must qualify for the protection, and are responsible for repaying debts after it is added.
ATB (like other banks) will share account information with credit bureaus. But an overdraft balance won't affect your credit score unless it is left unpaid and ultimately referred to a collection agency.
Interest is calculated daily on the daily closing overdrawn balance at 17.25% per annum, charged and payable monthly.1
The team at your ATB branch monitors an overdraft report on a weekly basis. They'll reach out to clients who are unable to bring their accounts up to a positive balance on a monthly basis to discuss alternatives. If you find yourself consistently using overdraft, you can also contact us and we'll help you find the right solution.
When changing who's on the account an new application for the overdraft protection is required.
Ready to get started?
Life happens—but with Overdraft Protection, you have a backup.
Find the right unlimited chequing account for you.
Bank without limits
Unlimited Account
Unlimited transactions and flexible overdraft protection for a low monthly fee.
Bank with an advantage
ATB Advantage Account
Get started with managing your money
Generation Account™
It's never too early to learn money management. Albertans 25 years of age and younger can save, spend and transfer for no monthly fee.
All-in free digital banking
No-Fee All-In Digital Account®
Get a line of credit and chequing account in one, with no-fee digital banking.
Reap well-earned rewards
Freedom Account
On approved credit. You pay the greater of $4.00 or monthly interest only if overdraft protection is used. Interest is calculated daily on the daily closing overdrawn balance at 17.25% per annum, charged and payable monthly.