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Overdraft Protection |
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Helping our customers manage their finances is an important part of East West Bank’s commitment to serve as your financial bridge. As you may be aware, Federal regulations have changed the way banks can charge overdraft fees for everyday debit card purchases and ATM withdrawals. As a result of these changes, if you don’t have enough money in your account for an everyday, non-recurring debit card purchase or ATM withdrawal, your transaction will be declined, and you won’t be charged an overdraft fee. However, if an overdraft occurs due to other types of transactions, such as a recurring debit card or check transaction, an overdraft fee will be assessed.
At East West Bank we understand that an unexpected circumstance or a simple mistake can result in an account becoming overdrawn, so we provide an array of services to help you avoid overdraft fees and ensure that your important payments and purchases are processed. |
Ways for you to stay on top of your finances
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| 1. Overdraft Protection |
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| Overdraft Protection gives you the flexibility to write checks,
pay for purchases or make withdrawals even when you don't have enough money in your checking account at the exact time of the transaction.
With Overdraft Protection, available funds are automatically transferred from your linked account,
allowing the transaction to be completed and helping you to avoid costly overdraft fees. |
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| East West Bank Overdraft Protection Options |
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Link your checking account to another East West savings or checking account |
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Linking your primary personal checking account to your savings or other checking account for
overdraft protection purposes allows you to use your own funds to help avoid overdraft situations.
If your primary checking account is overdrawn, available funds from the linked savings or checking account will be transferred automatically to cover the difference.
Although an overdraft transfer fee will be assessed, the charges are generally less than an overdraft or return item fee. |
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Link your checking account to an Overdraft Line of Credit with East West Bank |
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At East West Bank, we offer two Overdraft Protection Line of Credit Programs for your convenience. Our Standard and Easy Qualifier Programs are specifically designed to meet the unique financial management needs of our customers. Additionally, if an overdraft does occur on the linked checking account, there is no per transaction fee.
You simply pay the interest assessed against the available balance transferred to the checking account based on the number of days the transferred balance is outstanding. |
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| How do I request Overdraft Protection? |
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Please visit any East West Bank Branch to set up overdraft protection for your deposit accounts, or to apply for an Overdraft Protection Line.
For branch locations, please call our Customer Service Center at (888) 895-5650 or click here for branch locations. |
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| 2. Online Banking Services |
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| East West Bank’s Consumer Online Banking Service offers a free, fast and convenient tool to help you manage your account balances and avoid overdraft situations. |
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Check your account balance from your personal computer at any time. |
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Conduct immediate funds transfers between accounts when the balance in your checking account is running low. |
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Set up E-mail Alerts and Notification that inform you via email of certain events such as when your account balance falls below the limit you define. |
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How do I sign up for Online Banking? |
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| Please click here and click “Enroll” under the “Sign On to Personal Online Banking” link or visit your local branch. |
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3. 24-hour Automated Telephone Banking Service
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| Using East West Bank’s 24-hour Automated Telephone Banking service, you may check your account balance or conduct immediate funds transfers between your linked accounts from any phone by calling our toll-free number at (800) 809-6761. |
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How can I activate 24-hour Automated Telephone Banking service? |
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| Please visit our website at www.eastwestbank.com and click “Enroll” under the “Sign On to Personal Online Banking” link or visit your local branch. |
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| 4. Account Management Skills |
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| Below are a few simple tips that anyone can use to help avoid overdraft situations: |
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Record your transactions either in a register or by using an online financial tracking tool to help ensure that you always know your “actual” account balance based on the transactions you have initiated. |
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Hold on to your debit card/ATM receipts and ensure that they are promptly recorded in your transaction register.
This will help to avoid the simple balancing mistake of forgetting about a transaction, which can lead to an overdrawn account. |
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Be aware that check and other transaction clearing methods have been automated so transactions are in fact debited from your account much more quickly than they were in the past. |
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How can I get more information about the services offered by East West Bank? |
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| Visit your branch today and speak to one of our account representatives to learn more about East West Bank’s Overdraft Protection, Online Banking and Automated Telephone Banking service options, and how YOU can set-up or apply for these services.
If you are an existing account holder, you can also sign up for our consumer Online Banking service online here or contact our Customer Service Center at (888) 895-5650 (Monday through Friday: 6 a.m. to 7 p.m. PT, Saturday 9 a.m. to 5 p.m. PT) for assistance. |
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