Ideal for any individual or business with a Bank of Akron checking account. This line of credit is used to cover overdrafts on checking accounts.
- Available to personal and business checking account holders
- Provides emergency coverage in the event of an overdraft
- Line limits customized to the customers’ needs
- No annual fee
- Minimum payment is $25 or 1/24th of the principal balance plus interest, whichever is greater
- Serves as overdraft protection when the customer overdraws their checking account. The bank will draw on the ready reserve in increments of $100 to cover the overdraft
- Checks are not issued
- Loan based upon borrower’s credit quality
- Does not cover overdrafts resulting from the use of a debit card
- Individual must be 18 years of age
- Checks are not issued with this account. This is not a personal line of credit, it is overdraft protection only.