Top of main content

Overdraft Protection

Because we all need some flexibility from time to time.

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.

Key features and benefits:

  • 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 overdrawn for a day or more (doesn’t apply to Quebec residents).3

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. 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.

If you go over your approved limit:

  • Residents in provinces/territories other than Quebec: You pay 21% per year on the overdrawn amount. 
  • Quebec residents: You pay your current annual interest rate

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

Listening to what you have to say about services matters to us. It's easy to share your ideas, stay informed and join the conversation.