What is the difference between overdraft protection and Strunk & Associates discretionary Overdraft Privilege Service Program?
The most common forms of overdraft protection services involve loan products such as a pre-approved credit line, or sweep accounts that transfer funds from the members savings or money market accounts. Applications, credit approvals, contractual arrangement and excess deposits are normally required for such services. Strunk and Associates discretionary Overdraft Privilege Service Program is offered as a depository fee-based service privilege that is earned and maintained through your members history of responsible account behavior. It is made available to your members in addition to common overdraft protection loan products as a non-contractual courtesy to nearly all of your members. There are no additional papers for your member to sign and no action is required on the part of your member. Under the Strunk & Associates Overdraft Privilege Program, it is already a part of your Share Draft Deposit Account Agreement. The Overdraft Privilege service costs nothing unless your member overdr
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