Island Savings

Overdraft Protection

Overdraft protection is for you if:

  • you want to be covered for any unexpected expenses.
  • you need financial backup to support short term cashflow needs.
  • you need to buy that birthday gift today even though you
    don't get paid till next week.


With bill payments, debit transactions, preauthorized payments, and cheques, all coming from your account, sometimes your balance isn’t what you think it is. In the event of a shortfall, overdraft protection provides you access to available funds, up to an approved limit, to avoid the inconvenience and cost of an overdraft and/or returned payment. Overdraft protection is your financial backup to support short term cashflow needs.

Key Features & Benefits

  • Overdraft amount: maximum $5,000
  • Can be used any time throughout the month to cover unplanned or short-term expenses
  • Your money is simply an extension of your account
  • Quick approval
  • Flexible payment options—minimum 3% of the previous month end balance
  • No prepayment penalties
  • Interest charged only on the funds you use


What you'll need

You'll need to be at least 19 years of age to apply for overdraft protection with us.

Ready to apply? Applying for overdraft protection with us is easy!


Contact us to let us know you're interested in overdraft protection—we'll do the rest.

In Person

If you'd rather visit us in person, we'd be happy to go through the application process with you.

By Phone

If you’d like to call us, here is a complete list of our branch phone numbers.