Overdraft Protection | HSBC Canada

Overdraft Protection

You have been pre-approved for $1 in Overdraft Protection!

Get Overdraft Protection

Once you click on the above you will be asked to provide your Online Banking Username and Password.

Key features and benefits

HSBC Overdraft Protection provides you with coverage for occasional shortfalls in your HSBC Chequing account1, giving you peace of mind that results from knowing that your cheques, pre-authorized payments or other transactions such as cash withdrawals or Interac® e-transfers and Point of Sale transactions will be honored up to your approved overdraft limit. Feel comfortable knowing that funds are going to be available for emergencies and unexpected expenses.

  • Easy application process2
  • Minimum overdraft protection of $500 up to a maximum of $4,999
  • Automatic coverage when your account is overdrawn up to your approved overdraft limit.
  • Convenient repayment - deposits are automatically applied towards your overdrawn balance.
  • Transactions within your approved limit are covered – pre-authorized debits such as your mortgage, car or insurance payments, domestic and foreign ABM withdrawals Interac® e-transfers, Point of Sale purchases, cheques issued and transactions you may complete at an HSBC Branch.
  • Pay only when you use it – a $5 fee will be charged only in the months you are overdrawn3.
  • Overdrawn balances are charged a 21% per annum interest rate, calculated daily and charged monthly.
  • Annual interest rate: 21%

Additional details for your information before you apply

  • You must be at least the age of majority, 18 or 19 years of age depending on your province of residence
  • You must be a Canadian resident
  • You will be asked to provide personal details and details of your gross annual income (pre-tax)
  • You will be asked to provide your consent to HSBC obtaining information about your credit report
  • If you are applying for a joint loan, the co-applicant must also complete the application form. If there is more than one co-applicant, please call us at 1-888-310-4722 in order to proceed
  • You will be required to confirm that you have read and understood the Customer Information Consent
  • Overdraft protection is subject to standard credit approval.
  • Your use of this site, including this application, is subject to the Website Use Agreement which includes important terms about the security of the information you submit via this application. Your use of this site signifies your agreement to the HSBC Website Use Agreement. Your information will not be stored on HSBC’s systems if you do not submit this application. Whether or not you submit your application, your personal information can still be displayed by clicking the back button. For security purposes, it is advisable that you close your browser after using this site.

1 In addition to the Overdraft fees which are set out in the Credit Agreement - Line of Credit or Overdraft, HSBC Chequing account service charges apply. Details of applicable service charges can be found in the Personal Service Charges/Statement of Disclosure at www.hsbc.ca/servicecharge . Terms and conditions of the Credit Agreement – Line of Credit or Overdraft and Personal Banking Agreement apply.

2 HSBC Overdraft Protection is subject to standard credit approval.

3 Overdrawn balances are charged at a 21% rate per annum, charged monthly. $5.00 fee applies in each month in which your account is overdrawn a day or more.

® Interac. Trade-mark of Interac Inc. HSBC Bank Canada authorized user of the trade-mark.

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