Ready reserve is an unsecured, revolving line of credit that provides overdraft protection on a customer's checking account. This service is subject to credit approval.
- Protection from overdraft charges.
- Allows you to maximize convenience and flexibility when purchasing goods and services.
- Credit can be used for a few days or much longer.
- Access to credit is easy and convenient.
- Money can be borrowed anytime by simply writing a check.
- Repayment is simple and automatic.
- There is no need to reapply each time the reserve is used.
- A minimum payment of or of the outstanding balance, whichever is greater, will be withdrawn automatically from your checking account on the date your statement is cycled.
Monthly itemized statements are part of the customer's checking account statement indicating:
- Account balance.
- Repayment amount.
- Any finance charge.
- Record of deposits and withdrawals to the account.