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Overdraft
Shelter
Overdraft
Shelter promotes to your consumer customer the ability
to overdraw their account within a pre-determined Overdraft Shelter
Limit in times of need. For each check or withdrawal they make
within their Overdraft Shelter Limit, the consumer will be charged
your normal NSF fee. Overdraft Shelter is not a loan or line of
credit. So, there is no application to fill out and usury laws
do not apply.
Overdraft
Shelter
Consumer Advantage
By
offering Overdraft Shelter and allowing your customers the ability
to overdraw their account, you will be granting them the flexibility
that so many consumers now demand to manage the ups and downs
of their personal finances. Overdraft Shelter gives your customer
the peace of mind that you, their bank, will stand behind them
in times of need. Should they find themselves short on money,
with bills to pay or groceries to buy and payday still a few days
away, their lives can continue without interruption. They understand
they will be charged a NSF fee for this service, but will be appreciative
because they will have avoided the additional cost and awkwardness
of having their check bounce to the merchant.
Overdraft
ShelterFinancial
Institution Advantage
With
Overdraft Shelter, you will have a product that competes with
check cashing companies and that substantially increases your
NSF fee income. Combined with outReach Financial -- our proprietary
DDA Recovery & Loan Extension Manager, Overdraft Shelter will
minimize, if not decrease, your charge-offs. You will also enjoy
new marketing opportunities, chances to let your customers know
that you understand the complexities of managing life from paycheck-to-paycheck,
that you value and trust them as your customer and have them covered
in times of need with Overdraft Shelter.
Our Promise
inBusiness
Services will implement Overdraft Shelter without shifting any
of the burden to you. We will not just tell you what to do, we
will work alongside you to find the appropriate solution to meet
your bank’s unique needs and then implement it for you. If at
any time, you are not completely satisfied with our level of service
and feel we are not living up to our promise, you can remove our
products and services from your bank without undue penalty – simply
as that.
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