Your Clair Spending Account is a transaction deposit account at an FDIC-insured banking institution. Clair offers two types of accounts from the moment you sign-in:
1. Your Spending Account is a deposit account. This account allows you to send and receive money by automated clearinghouse (ACH), conduct one-time and recurring payments using the MasterCard® Debit Card, and pay bills by requesting a check be sent to your payees.
2. Your Savings Account is here to help you put money aside. This account can only send and receive from your Clair spending account. If you do not have enough have funds in your Spending account to pay for withdrawals and debit card purchases (one-time or recurring), the bank will not pay your overdrafts or authorize your debit card transactions you won't be able to perform any transactions. You may incur a fee for returned ACH requests or recurring debit card charges. You first will need to transfer sufficient funds from your savings account to your spending account.