What is an Overdraft?

An overdraft occurs when you don’t have enough money in your account to cover a transaction. Fees often apply when a transaction causes your available account balance to drop below $0.

Transactions may include debit card purchases, checks, cash and electronic withdrawals, or online payments.

What happens if I overdraw my account?

If you spend more money than you have available in your account, your account will be overdrawn and may be charged a fee. Washington Trust may also decline your transaction.

To help you better manage your finances, we offer three easy ways to help reduce your chance of overdrawing your account and protect you from overdraft fees and declined transactions if you do overdraw your account.

Three Easy Ways to Manage Overdraft Fees

  • Use Washington Trust's Free Digital Banking Services
    With online banking, you can manage your finances and help prevent overdrafts. Check account balances, transfer money between accounts, pay and receive your bills electronically, and more. Online banking is FREE with any Washington Trust account. Learn More >>>
  • Savings Transfer Overdraft Protection (STOP)
    Savings Transfer Overdraft Protection (STOP) links your checking account to a savings account or money market account to provide funds to automatically cover checking account overdrafts. Learn More >>>
  • Consumer Overdraft Line of Credit
    Our Consumer Overdraft Line of Credit, Credit Reserve, provides overdraft protection to your personal checking account through a line of credit that is available when you need it. A routine credit approval is all that is required to establish your Credit Reserve account. Learn More >>>