DoubleCheck is not another fee-filled overdraft program—it saves you money and puts you in control.
Things get confusing when your account becomes overdrawn and you have insufficient funds in your account to cover your transactions, and the fees pile up fast.
To help you understand how it works, let’s first clear up some banking terminology.
Overdraft protection keeps transactions moving…for a fee
Your bank or credit union could cover your account shortage using overdraft protection within your set limit. This ensures your transaction goes through and no one else finds out.
Non-sufficient funds, or “NSF:” when you dip below zero, the fees add up fast
NSF happens when you don’t have enough cash in your checking account to cover a transaction and you don’t have overdraft or you’ve exceeded your overdraft limit. You get charged an “NSF fee” every single time this happens, it’s generally about $35. If multiple transactions hit your account, or your payment is re-submitted, you could get charged each and every time. Ouch.
Then, your bank or credit union makes the call on which charges are paid or not, and you’re left to clean up the mess. Double ouch.
Your pain doesn’t stop there
When your payment doesn’t go through, it’s not just your bank or credit union who will charge you. Your bounced car payment will trigger another fee from their bank or credit union, not to mention a late fee. Did I also mention you may now have a 30-day late payment showing on your credit report? That’s a lot of pain for a controllable problem.
DoubleCheck is the Third Option
It’s the one that puts you in control
DoubleCheck is an entirely new option that empowers you to address your account shortage how you want to—before your payment bounces and leaves a path of destruction in its wake.
DoubleCheck for NSF
Avoid late fees, damaged relationships and even potential account closures when you experience NSF because you get the chance to decide which transactions get paid and how.
NSF fee (average $35)
A small transaction fee for using DoubleCheck (average $20-your bank or credit union decides)
These fees are only charged once per day, per account, no matter how many payments are impacted
Returned payment fees from the bank or credit union of the business that received the bounced payment
Damaged relationships and/or credit
On average, bank and credit union customers that experience three
NSF transactions in one day will save $175 with DoubleCheck.
The best part? You only pay for DoubleCheck when you use it
It’s always there for you, no matter what. If you login but don’t make any changes, you won’t pay a thing.
…And even if you have multiple transactions, there’s only one fee
When multiple transactions hit your account at the same time, you’ll only be charged once during the window of time your bank or credit union gives you to address your shortage.