Charles Schwab Bank[1] has something similar called an "Overdraft Line of Credit". You can overdraw your checking account, up to the line of credit amount (whic

Charles Schwab Bank[1] has something similar called an "Overdraft Line of Credit". You can overdraw your checking account, up to the line of credit amount (which can be as high as $10,000). There are no overdraft fees. You just pay a relatively-high interest, which for me is 13.99%. Nothing else. No catches, no hidden fees or surcharges. No other U.S. bank that I'm aware of offers this feature. This feature is fairly hidden on their website. I read about it somewhere, and asked about it through their chat. The gave me a link to a PDF application form. I had to print out the PDF, fill it out with a pen, and mail it out (you can't apply online). I was approved a week or two later. [1] It's the Bank that offers this -- not the brokerage service of Charles Schwab. There's a second overdraft service offered through Charles Schwab itself -- this overdraft service is a margin loan secured by equities in your brokerage account. You can actually combine both overdraft services. The Schwab Bank Overdraft Line of Credit application form asks which type of overdraft line of credit to use first.