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Personal Finances

Overdrafts Happen, So We’re Ditching Fees

Sometimes, overdrafts happen. You forget you have just $30 in your account, and you make a $45 purchase and as a penalty, you’ll be deducted a fee. Banks used to use these overdraft fees as a source of profit, but times have changed. Customer experience is more important than it ever has been, and with that growing emphasis comes new policies to better facilitate customer needs.

There’s no way around it: overdraft fees can be an inconvenience. And typically, people overdraft their accounts on transactions of $24 or less, so an added fee that costs more than the transaction itself can be frustrating. Thankfully, Amerant offers a plethora of options to help you avoid those pesky fees, including its brand new Amerant CoverMe program.

Amerant CoverMe eliminates overdraft fees for up to $100 and helps its customers avoid declined transactions, returned checks and overdrafts. It actually allows for an overdraft of up to $100 without charging any fees on Value Checking, Interest Checking, Savings, Money Market, Relationship Money Market, and Relationship Interest Checking Accounts. With the customer’s next deposit, a negative balance can replenish the customer’s account as the deposit is applied to make positive adjustments.

With Amerant’s CoverMe, Amerant is ensuring banking with Amerant offers the best experience possible. “Part of our mission at Amerant is to use the power of banking to create social and environmental value for our people, communities, and customers. We believe these positive changes in overdraft practices are an example of our commitment toward upholding this,” said Amerant Vice Chairman, President & CEO Jerry Plush.

While the bank’s CoverMe program is new, Amerant has been offering its customers with a value-added Overdraft Protection program, which allows customers to link eligible checking accounts to automatically transfer available funds from backup account(s) to cover transactions that exceed their available balance. This offers customers added assurance by helping them avoid declined transactions, returned checks and overdrafts. There is no cost to set up to Amerant’s Overdraft Protection. Customers can easily sign up by visiting their nearest Amerant Branch location.

Additionally, Amerant offers more ways to reduce or avoid overdraft fees, including:
• Account alerts via email or text message when balance is low and/or when payments are due.
• Amerant Mobile Banking, in which customers can check their current balance.
• Amerant’s Overdraft Protection

Make overdrafts and added fees a thing of the past! Learn more about Amerant’s overdraft-eliminating offerings.

See Important Legal Disclosures and Information.

Amerant Editorial Team
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