Business Kwik Cash Overdraft Protection
Protect your business accounts against NSF charges with Kwik Cash overdraft protection
Call us at 800-341-9911 ext. #3001
A Safety Net For Your Business Accounts
Business Kwik Cash overdraft protection helps guard your accounts against insufficient funds charges.
How Overdraft Protection Works
- Business overdraft protection is a line of credit that automatically advances money to your business checking account in $100 increments if the balance goes below zero.
- Funds are transferred instantly and automatically, preventing an NSF charge and ensuring your transaction can be completed.
Benefits Of Overdraft Protection
- As a business, it’s important to be able to pay who you want when you need to. Overdraft protection helps make sure your vendors, suppliers, employees, or anyone else will be able to process your payment as intended.
Kwik Cash Interest Charges
- When funds are advanced from your overdraft protection line of credit, you will be charged interest. There is no additional charge for having or using Kwik Cash besides the interest on the amount you owe.
- Depending on the overdraft amount, overdraft protection interest can be much less expensive than an insufficient funds charge or a late payment fee.
Access Kwik Cash Anytime
- Since your overdraft protection is a line of credit, you can advance available funds at any time through business online banking, our mobile app, by phone, or at an office.
- This means business overdraft protection can be used as a temporary source of emergency funding.
Business Overdraft Protection Rate
Frequently Asked Questions
What is Kwik Cash overdraft protection at Royal Credit Union?
Kwik Cash overdraft protection is a line of credit that automatically transfers money to your business checking account if the balance goes below zero. It acts as a safety net for your business, helping you avoid costly insufficient funds charges when unexpected transactions push your balance into the negative.
How does Kwik Cash overdraft protection work?
If a transaction occurs that would cause your business checking account balance to go below zero and you have available Kwik Cash funds, they will automatically be transferred to your checking account in $100 increments to bring the balance above $0. You don't need to take any action for the transfer to happen.
How much does Kwik Cash overdraft protection cost?
There is no charge to your business for having or using Kwik Cash besides the interest on the amount you use. This means Kwik Cash overdraft protection is usually much less expensive than an insufficient funds charge.
Can I access Kwik Cash funds for purposes other than overdraft protection?
Yes. Since overdraft protection is a line of credit, you can advance available funds at any time through business online banking, Royal's mobile app, by phone, or at an office. This means business overdraft protection can also be used as a temporary source of emergency funding whenever your business needs quick access to cash.
