Overdraft Protection Service
The Modern Cash Prepaid MasterCard offers an Overdraft Protection Service, ensuring you are never caught in an embarrassing situation when checking out, and giving you a bit of a buffer before you are able to load your card with increased funds. When you sign up for qualifying direct deposits, you are automatically eligible for the Overdraft Protection Service, but you must contact a Customer Service agent at 1-866-717-6658 in order to activate Overdraft Protection Service. A fee will apply once your balance becomes negative by more than $1.00. Other terms and conditions may apply.
What You Need to Know about Overdrafts and Overdraft Fees
An overdraft occurs when you do not have enough money in your Card account to cover a transaction, but we pay it anyway. If you request and we agree to provide our Overdraft Service, we may, in our discretion, cover your overdrafts as described below.
What are the standard overdraft practices that come with my card account?
We do not authorize and pay overdrafts for any transactions using your Card or Card account number unless you request, and we provide, our Overdraft Service. In no event, even if you have our Overdraft Service, may you incur an overdraft from an ACH (automated clearing house) transaction. Any ACH transaction that you attempt without sufficient funds in your Card account will be declined.
What if I want the Bank to authorize and pay overdrafts from my Card transactions?
If you want us to authorize and pay overdrafts on your Card transactions, call 1-866-717-6658 to request our Overdraft Service.
- Purchase transactions made using your Card
- Purchase transactions made with your Card account number
- Online purchase transactions with your Card or account number
- ATM transactions with your Card
- Bill payments made with your Card or account number
See the Cardholder Agreement for your Card conditions and other details of the Overdraft Service.
What fees will I be charged if the Bank pays my overdrafts?
- We will charge you an Overdraft Service Fee of $9.95 for each time we pay an overdraft.
- There is no limit on the total fees we can charge you for overdrawing your account.