Metrobank in Canada / USA

[ukaviator]

The bank operates already in Canada and in the USA,the Commerce Bank. They offer an overdraft facility and overdraft protection:

 

Checking Plus Overdraft Protection is a transfer from your Commerce credit card

 

Overdraft Transfer is a transfer from another Commerce checking or savings account

 

Quote:

 

"If an overdraft occurs, we’ll automatically cover your account with a Cash Advance from your Commerce Visa® by depositing the funds into your Commerce Bank checking account"

 

The fee i can see for this is $7 per occurrence. Example:

 

Checking account is overdrawn by $10

 

$17 is withdrawn from the account you’ve designated to provide Overdraft Protection ($10 to cover the overdraft, and $7 to cover the Overdraft Transfer fee)

 

The $7 fee is charged to your account at the time of the transfer

 

$10 is deposited to your checking account

 

Your checking account balance is reduced to zero.

 

I wonder if they will have that sort of system in place here with the new Metrobank?

 

Link:

 

Overdraft Service | Commerce Bank