This guide contains all information about Solaris' Overdraft products, including key concepts and the necessary endpoints for creating, activating, and servicing overdraft applications.

What is an overdraft?

An overdraft is a credit line that allows account holders who have an account with Solaris to make withdrawals or payments even if the account balance is zero or in case of insufficient funds.

An overdraft happens when there isn't enough money in your account to cover a payment, purchase, or bill, but the bank accepts the transaction anyways.

Overdrafts are similar to a credit loan allowing account holders to withdraw money beyond the available funds in their account, usually within a specific pre-approved limit. Like loans, account holders are subject to pay interest and other overdraft fees.

Overdraft product specifications

Overdrafts are offered to existing customers with a current account at Solaris and new customers. The overdraft offered limit varies depending on several factors, such as account history, net income, and SCHUFA score. The overdraft limit amounts range from 500 - 5000 EURO. Additionally, applicants must be between 18 - 67 years old and residents of Germany. A credit check via SCHUFA is mandatory for overdraft applications.

Overdraft interest rates are applied on the negative balance and charged quarterly. Overdrafts are offered with unlimited term, as well as early unlimited repayments.

  • The product is currently only offered in Germany.
  • Customers must have a current account with Solaris. Overdrafts cannot be added to external bank accounts.

Solaris Overdraft products

Our API-enabled Overdraft solutions are available to existing current account holders and new customers. They are currently offered to the following segments:

  • Businesses
  • Consumers (Retail customers)
  • Freelancers

Overdraft integration guides

The following links will take you to the integration guide of each overdraft product.

Overdrafts API reference

The following links will take you to the API reference documentation for the Overdrafts products.