Overdraft Opt-In

Overdraft opt-in can be set up to act as financial institution-funded overdraft protection or account-to-account overdraft protection, depending on your institution's internal protocols.

The overdraft feature lives within the core banking system itself, so eligibility, fees, limitations, and coverage are configured by your institution on the core. The Narmi platform allows you to configure opt-in for new consumer applicants and updates the user's ledger when the overdraft opt-in service is triggered.  

Note: Overdraft opt-in is only supported in Consumer Account Opening (not Business Account Opening) for institutions on the following cores: Corelation, FIS Horizon, FIS IBS, Finastra, Fiserv DNA, Silverlake, and Symitar. Please contact your Narmi Relationship Manager if you have a core that is not mentioned here but would like to set up Courtesy Pay.

Configuring Overdraft Opt-In

You can allow overdraft opt-in during the Consumer Account Opening flow. To enable this option, from the Admin Platform sidebar, select Account opening > Product List Manager. When you create a new Consumer Banking product or edit an existing Consumer Banking product, one of the questions is "What product offerings do you want to support?" Select Overdraft opt in.

Please contact your Narmi Relationship Manager if you would like to change the wording of “Overdraft opt-in.”

Once enabled, Overdraft opt-in appears in the Preferences step of Consumer Account Opening.

To configure the overdraft opt-in disclosure, go to the Admin Platform > Institution Settings > Courtesy Pay Disclosure. The disclosure is a markdown text string that is displayed below the Overdraft opt-in option when opening an account.