Advanced technology hasn't found a way to eliminate all human error. So, you may still want overdraft protection to provide that extra assurance against bouncing an important check. If you never use it, it costs you nothing.

B of I offers two forms of overdraft protection: a line of credit and a link to another B of I account.

An overdraft line of credit protects your account by advancing funds to your account as needed to cover a required difference, up to the limit of your line of credit. Unlike many other banks, B of I does not charge any advance fees.

You can apply for a line of credit when setting up a new account on-line, or later.

For accounts you already have opened, click here to view the application form, then print the form and complete it by hand. Fax or mail it to the address on the form for bank approval. Full terms for overdraft lines of credit are explained on the form.

You can also set up overdraft protection for one account by linking it to a savings or money market account. This arrangement uses the balance in the linked account to cover a shortfall in your checking account, up to the full balance of the linked account. Your savings or money market account will automatically transfer the needed amount to cover the check.

Regulations limit this protection to a maximum of 6 transactions a month.

However, you can transfer funds between your accounts anytime -- for free, as often as you like -- by using B of I's Transfer Funds after logging in to your account.
Link Accounts for Overdraft Protection.