Safety Link Automatic Transfers
Bank of Sullivan offers Safety Link automatic transfers which allow our customers to designate their Bank of Sullivan savings account as the source to cover any overdrafts in their checking account. The advantages of choosing this option are:
- There are no interest charges, unlike a line of credit or credit card.
- The transfer is set up to sweep in increments of $100.00 for a minimal fee of $5.00 for each transfer.
- The limit for your overdraft coverage is as large as your savings account balance.
- Your monthly statement will reflect the transfers between your accounts.
- You can review your transactions via Internet Banking and/or Telephone Banking.
Federal Banking law sets a limit of six preauthorized transfers on savings accounts per month. Safety Link automatic transfers are included within this limit.
Please contact a Financial Service Representative at your most convenient Bank of Sullivan location to set up your Safety Link automatic transfer today.