For bank customers with authorised overdraft facilities, Overdraft Protection repays at the very least the interest repayments if your customer loses their job or gets ill. In the event of their death it can repay the overdraft in full.
Many customers with an overdraft worry about maintaining their payments if they find themselves unable to work.
For bank customers with authorised overdraft facilities, Overdraft Protection offers peace of mind in the event of:
We pay at the very least the interest repayments, and in the event of Death we pay the overdraft in full.
This helps maintain financial flexibility, enabling the customer to retain their overdraft facility when they need it most.
The product is flexible enough to be either embedded free into a Current Account or sold as a standalone product.
Multiple product holdings build loyalty
Builds caring brand perception
Protects your relationship with your customer
Incremental risk-free revenue opportunity
Product flexibility as this can be paid for by you or by your customer, and we can add in additional covers.
If a customer is sick or unemployed we continue to meet their overdraft payments, maintaining payment continuity
Customers no longer have to worry about paying their overdraft if the worst happens, and can focus on recovering or finding a new job
Helps safeguard your customer’s credit rating
Flexible policy options with benefits tailored to individual needs and budget.