Your overdrafts will automatically get repaid when funds are deposited into your Albert Cash account.
Repayment for your Instant overdraft balance can be made by depositing funds into your Albert Cash account to bring your Albert Cash balance to $0 or more. Your overdrafts will automatically get repaid when funds are deposited into your Albert Cash account.
- When you receive your direct deposit in Albert Cash, transfer funds from an external account into Albert Cash, or receive a Smart Money deposit, the deposited funds will be used to repay any overdrafts first.
- Any funds in your other Albert accounts may also be used for automatic repayment of your overdrafts.
How much time do I have to repay?
Repay your overdrafts within 10 days from when your Albert Cash balance is initially overdrafted to prevent your repayment from becoming overdue.
- If your overdrafts are not repaid within 10 days or more, you may be temporarily suspended from accessing additional overdrafts. If you repay within 15 days of being overdue, the suspension will be lifted when your repayment completes.
- If your repayment is more than 15 days late, access to Instant may be suspended for 30 days or more from the day your repayment completes.
- If your repayment is more than 30 days late, access to Instant may be suspended for 90 days or more from the day your repayment completes.
Once you bring your Albert Cash account balance back to $0, your overdraft repayment timeline resets. For example, if you overdraft your account on Jan 1 by $10, and on Jan 2 overdraft your account by an additional $10, for a total of $20:
- If you repaid the full $20 on Jan 3, and subsequently took out an additional $10 overdraft on Jan 4, your Instant repayment date for the final overdraft would be Jan 14.
- However, if you did not repay, and made the subsequent overdraft on Jan 4, your repayment date would remain Jan 11 for the total amount overdrafted.