What Is Amerant CoverMe1,2,4?
Banking customers across the country share a common frustration: unexpected overdraft fees. Recognizing this pain point, Amerant Bank has developed CoverMe, a service designed to help customers avoid overdraft charges. Amerant CoverMe serves as a financial safety net, protecting customers from overdraft fees on transactions up to $100.
The beauty of this service lies in its simplicity and accessibility. There’s no cost to set up Amerant CoverMe, and all personal, domestic Amerant customers automatically receive this protection without needing to enroll. When an overdraft occurs, Amerant will apply the customer’s next deposit toward the negative balance, helping them quickly recover their financial footing.
How Amerant CoverMe Works in Everyday Banking
Amerant CoverMe integrates seamlessly into customers’ daily banking activities. The service covers a wide range of transaction types including:
• Checks
• MasterCard Debit Card purchases
• ACH transactions (for U.S. residents only)
This protection applies across Amerant’s personal banking products, including:
• Value Checking accounts
• Interest Checking accounts
• Savings accounts
• Money Market accounts
• Relationship Money Market accounts
When a customer makes a purchase that would typically overdraw their account, instead of declining the transaction or charging an overdraft fee, Amerant CoverMe allows the transaction to process if it falls within the $100 threshold. This prevents the embarrassment of declined purchases and helps customers avoid costly fees while maintaining their financial dignity.
Transactions Not Covered by Amerant CoverMe
While Amerant CoverMe offers substantial protection, customers should be aware of its limitations. The service does not cover certain digital payment methods, including:
• Zelle transfers
• Venmo transactions
• Square Cash payments
• Other similar peer-to-peer payment platforms
For these types of transactions, customers should ensure sufficient funds are available or consider using Amerant’s traditional Overdraft Protection service as a backup.
Amerant CoverMe vs. Traditional Overdraft Protection: Understanding the Difference
Many customers wonder about the difference between Amerant CoverMe and traditional overdraft protection services. While both aim to prevent declined transactions, they operate quite differently.
Traditional Overdraft Protection3
Amerant’s traditional Overdraft Protection requires customers to:
• Actively enroll at their local branch
• Link a savings account or another Amerant account
• Set up fund transfers when the primary account is overdrafted
This service pulls funds from the linked account whenever needed, ensuring transactions aren’t declined due to insufficient funds.
Amerant CoverMe
In contrast, Amerant CoverMe:
• Automatically enrolls all eligible customers
• Requires no account linking
• Charges no fee for overdrafts up to $100**
• Involves no participation fee
This distinction highlights Amerant’s commitment to customer-friendly banking solutions that provide protection without complicated enrollment processes or additional costs.
Who Benefits from Amerant CoverMe?
The accessibility of Amerant CoverMe is one of its most appealing features. All personal, domestic Amerant customers qualify for this service and are automatically enrolled, meaning no one misses out on this valuable protection.
This universal coverage benefits:
• New customers who might be unfamiliar with balancing their accounts
• Long-term customers who might occasionally miscalculate their spending
• Busy professionals who might temporarily lose track of their balance
• Anyone who values protection against unexpected fees
The automatic enrollment ensures that customers receive overdraft protection from day one, without needing to request or activate the service.
Combining Services for Maximum Protection
For customers seeking comprehensive overdraft protection, Amerant offers the option to utilize both CoverMe and traditional Overdraft Protection together. By enrolling in traditional Overdraft Protection and linking accounts, customers create a multi-layered safety net:
1 Amerant CoverMe covers overdrafts up to $100 without fees
2 For larger overdrafts, the traditional Overdraft Protection kicks in, pulling funds from linked accounts
This combination provides peace of mind for customers who want to ensure their transactions process smoothly regardless of the amount.
Why Overdraft Protection Matters
Financial surprises happen to everyone. An unexpected auto-payment, a forgotten subscription renewal, or a simple calculation error can lead to an overdrawn account. Without protection, these simple mistakes can result in:
• Declined purchases at checkout
• Returned checks (which may affect relationships with creditors)
• Multiple overdraft fees (quickly compounding the financial impact)
Amerant’s approach to overdraft protection demonstrates their understanding of these everyday challenges and their commitment to helping customers navigate them with dignity and minimal financial impact.
Banking with Confidence
Amerant CoverMe represents a customer-centric approach to modern banking. By automatically protecting all personal domestic customers from overdraft fees on transactions up to $100, Amerant demonstrates its commitment to putting customers’ needs first.
This service allows Amerant customers to conduct their daily financial activities with greater confidence, knowing they have a buffer against unexpected overdrafts. Combined with the option for traditional Overdraft Protection for larger transactions, Amerant provides a comprehensive solution to a common banking challenge.
For more information about Amerant CoverMe or to discuss additional overdraft protection options, customers can visit their local Amerant branch or contact customer service directly.
Important Disclosures
1 Applies only to personal domestic accounts.
2 With the exception of Time Deposits, a fee may be imposed for paid or returned overdrafts created by checks, in person withdrawals, internal debits and transfers or other electronic means. There will be no fees on daily overdraft balances of $100 or less
3 For information on overdraft fees and overdraft related interest charges refer to our For additional fees, please refer to our Schedule of Fees.4 Does not include ATM withdrawals
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