Business Overdraft Payment and Protection Programs

We all make mistakes. At BBVA Compass, we offer tools to help you manage those mistakes, and options to help prevent them from happening again.

The chart below is a summary of overdraft payment and protection programs we offer to help you manage your account and avoid overdrafts. Your business checking account also comes with many tools, including telephone banking, online banking, mobile banking and account alerts, to help you manage your account. We encourage you to use them to check your Available Balance so you can avoid transactions that might cause your account to be overdrawn.

Just to remind you, an overdraft occurs when you do not have enough money in your account to cover a transaction,1 but the transaction is paid anyway.2 You can be charged an overdraft fee for any transaction (such as a check, debit card charge, preauthorized electronic fund transfer, or ATM withdrawal) that causes your account to be overdrawn. You should be aware that not all transactions are processed in the order they occur. The order in which transactions occur, and the order in which they are received and processed, can affect the total amount of overdraft fees. Payment of overdrafts under any program is made at the discretion of BBVA Compass after review of the transaction. Please see terms & conditions for each service for complete details.

To help you manage your company’s resources effectively, BBVA Compass offers multiple Treasury Management services that may help you improve cash flow and automate routine processes. 

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  Business Overdraft Protection Line of Credit Linked Account Overdraft Sweep Service
Description

An unsecured revolving line of credit (subject to credit approval), which links to an existing checking account to cover overdrafts.3 The line of credit is only available in AL, AZ, CA, CO, FL, NM and TX.

The Overdraft Protection Line of Credit is a credit product subject to fees, interest charges, and approval, including credit approval.

How it works

This option links another account (e.g., savings or money market) to your checking account to cover any overdraft.

How it works

Features & Benefits
  • In general, lower fees than our standard overdraft and NSF fees3
  • Coverage for overdrafts up to your total credit limit3
  • Ability to pay back over time3
Funds automatically transfer from a secondary account to primary checking (up to the available balance in your secondary account) to cover overdrafts.4
Fees Associated with
Overdraft Payment and
Protection Programs
  • An APR of 18% applies to the Business Overdraft Protection Line of Credit
  • Maximum of one Overdraft Protection Line of Credit Transfer Fee of $12 ($9 in CA) per day will be charged to your checking account for each day in which an advance is made from your Business ODP Line of Credit to cover an overdraft (maximum one Overdraft Protection Fee per day, regardless of the number of overdraft transactions in a given day)
  • Your total overdraft coverage is determined by your approved credit limit for the Business Overdraft Protection Line of Credit
Maximum of one Inter-Account Transfer Fee of $12 ($9 in CA) per day in which there is a transfer. The Inter-Account Transfer Fee will be charged to your checking account.
How to Sign Up

Apply for an Overdraft Protection Line of Credit:

  • Link your existing savings or money market account to your checking account:

 
Business Overdraft Protection Line of Credit Terms
Annual Percentage Rate (APR) 18%
Grace Period for Repayment of Credit Line Balance There is no grace period in which to repay the balance of your credit line before finance charges will be imposed.
Method of Compounding Credit Line Balance Daily balance method, including current transactions.
Annual Fee None
Minimum Finance Charge None
Overdraft Protection Fee $12 ($9 in CA) (Once per day of transactions)
Late Payment Fee None
Over-the-Credit-Limit Fee None
Overdraft Protection Limit Determined upon approval & acceptance.

Details you need to make a smart decision

1 BBVA Compass is not obligated to pay any item presented for payment if your account does not contain sufficient available funds, and we reserve the right not to pay. For certain transactions, an NSF Charge – Returned Item fee of $38 ($32 in CA) may apply if the bank chooses not to pay a transaction into overdraft.

2 If an overdraft occurs, you will be charged an NSF Charge – Paid Item fee of $38 ($32 in CA). Should your account become overdrawn and continue with a negative balance for ten (10) consecutive calendar days, an extended overdraft fee of $25 will be charged. An additional $25 extended overdraft fee will be charged if your account remains negative for twenty (20) consecutive calendar days. This charge is in addition to any NSF fees you may incur as a result of items being presented against insufficient funds. This service charge applies only to ClearConnectsm for Business, BBVA Compass ClearChoicesm for Business and CompassWorks for Business accounts.

3 Business Overdraft Protection Line of Credit accounts are subject to approval, including credit approval. Fees and interest charges apply. The amount of overdraft protection coverage provided under an ODP Line of Credit is determined by your credit limit, which is subject to review and approval. Having an Overdraft Protection Line of Credit does not guarantee you against paying NSF fees; the amount of credit available on your ODP Line of Credit may not be sufficient to cover all transactions. Not all checking accounts are eligible. See your local branch for details.

4 Even if enough funds are in the secondary account to cover an overdraft, the bank may not transfer funds if: (a) the secondary account is dormant, inactive, or frozen; or (b) the transfer exceeds or would exceed any limitation on the number of transactions that are permitted for the secondary account.