Business Overdraft Lines
Overdraft Protection: Peace of Mind
Avoid the fees, hassle and embarrassment of accidental overdrafts with an overdraft line of credit.
Your City National Bank overdraft protection is linked to your City National business checking account. Our Business Overdraft option acts as a safety net by automatically advancing funds from the line to cover checking account overdrafts up to your available credit.
An unsecured Business Overdraft Line is a good short-term solution for your business' cash flow requirements.
- Advances funds into your checking account on an as-needed basis.
- Automatically deducts the minimum payment due from your checking account each month.
Line Size and Features1
|Interest Rate:||Fixed Rates|
Advance Transfer Fee:
|Minimum Monthly Payment:||5% of principal balance plus any assessed fees (with a $25 minimum payment)|
|Payment Advance Increments:||$100 increments, subject to amount of credit available.|
|Automatic Payment:||Required. Monthly payments will be debited from checking account.|
|If the checking account closes:||The Business Overdraft Line is cancelled. Payments will continue to be billed and due monthly.|
|Combined Statements:||Combined checking/Business Overdraft Line statements are available.|
- Subject to credit approval.
- No annual fee for Business Overdraft Line accounts domiciled in our New York offices.