The B-Smart® and the FlexiCuenta de Negocios® accounts offer overdraft protection. These accounts have a Savings-Guaranteed Reserve. When you make purchases and withdrawals at an ATM, the account combines the balance of the checking section and the savings section to authorize the transaction.
If you don’t have enough funds in the checking section, but you have a balance in the savings section to cover the transaction, Banco Popular will authorize it. Once authorized, the balance transferred from the savings section is withheld (creates a hold) and automatically activates a reserve to cover overdrafts in the checking section. This savings-guaranteed reserve does not require credit approval. Banco Popular charges 5% APR above the interest on the savings section for this service.
For more information about the Savings-Guaranteed Reserve, click here and access the Commercial Deposit Accounts Agreement.