Menu

Updated

How Autopilot avoids overdrafts

Autopilot takes care to only withdraw cash in excess of the maximum balance you set for your checking account or Cash Account.

  • Autopilot emails you when it schedules a transfer. You have 24 hours to cancel it.
  • Autopilot cancels the transfer if you’re no longer over your maximum balance by at least $100.
  • You’re in control of your settings and can increase or decrease your maximum balance at any time.

Can an overdraft still happen?

Yes, this can happen if Autopilot transfers funds in the same moment that you pay a bill or transfer funds elsewhere.

To avoid this, we suggest choosing a maximum balance that’s more than the amount you spend or withdraw each month. This helps you avoid an overdraft if Autopilot transfers funds in the exact same moment you pay a bill.

Was this article helpful?

Cash Account and Autopilot is offered by Wealthfront Brokerage LLC (“Wealthfront Brokerage”), a member of FINRA/SIPC. Neither Wealthfront Brokerage nor any of its affiliates are a bank, and Cash Account is not a checking or savings account. We convey funds to institutions accepting and maintaining deposits. Investment management and advisory services are provided by Wealthfront Advisers LLC (“Wealthfront Advisers”), an SEC registered investment adviser, and financial planning tools are provided by Wealthfront Software LLC (“Wealthfront”).

Nothing in this communication should be construed as tax advice, a solicitation or offer, or recommendation, to buy or sell any security. Any links provided to other server sites are offered as a matter of convenience and are not intended to imply that Wealthfront Advisers or its affiliates endorses, sponsors, promotes and/or is affiliated with the owners of or participants in those sites, or endorses any information contained on those sites, unless expressly stated otherwise.

Wealthfront, Wealthfront Advisers and Wealthfront Brokerage are wholly owned subsidiaries of Wealthfront Corporation.

© 2020 Wealthfront Corporation. All rights reserved.