GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
If you write a check or charge your debit card for an amount greater than the balance of your checking account, it’s called an overdraft. Chase’s overdraft fees will cost you $34 with a limit of three overdraft charges per day, but Chase will waive the fee if the purchase is $5 or less.
Overdraft charges are not a pleasant experience, and the costs involved make it harder to save money while also jeopardizing your account. Each bank has its own rules pertaining to overdraft fees, and Chase might even waive them depending on the account you have. Overdraft protection is another solution.
Keep reading to learn about Chase overdraft fees.
Whenever you overdraw your account, Chase’s standard procedure is to charge a $34 overdraft fee unless the account is overdrawn due to a transaction that costs $5 or less.
Chase will honor check payments, automatic payments and recurring debit card purchases at its discretion based on the customer’s account history. But attempts to use your Chase debit card for daily purchases can be rejected. The transaction might also be declined if your account is not in good standing.
Chase’s overdraft rules are fairly straightforward. Per its fee schedule, Chase allows fees for three overdrafts per day, for a total daily charge of up to $102.
Chase will not charge you an overdraft fee if:
Chase notes you can avoid an overdraft by transferring funds to cover the difference before the end of the business day. The cutoff times are:
Chase applies withdrawals and deposits in the following order:
So, Chase essentially gives you a grace period — you get until the end of the next business day to deposit enough money to cover your checks and debit transactions and avoid the overdraft fees.
Get the latest news on investing, money, and more with our free newsletter.
By subscribing, you agree to our Terms of Use and Privacy Policy. Unsubscribe at any time.
You're now subscribed to our newsletter. Check your inbox for more details.
An overdraft occurs when you have transactions that exceed your available account balance. Chase considers all deposits throughout the day before considering debit card payments, ATM withdrawals, checks or other deductions. If the amount deducted leaves your available balance overdrawn by over $50, and you don’t deposit money to bring your account to good standing by the end of the next business day, overdraft fees may apply.
There are no specific Chase overdraft limits. However, Chase uses its own discretion when approving an overdraft transaction. It may deny the transaction or return it unpaid to the merchant if it decides not to approve the overdraft.
It depends. You can contact Chase directly and ask them to remove the overdraft fee from your account, but whether they will do so or not is up to Chase bank representatives.
The best course of action is to avoid overdrafts by keeping a balance in your account. You can link your Chase checking account you use for everyday transactions with another Chase account, and Chase will automatically transfer money to cover any overdrafts, helping you to avoid the fee. Some types of Chase checking accounts, including Chase Private Client Checking℠ and Chase Sapphire℠ Checking, waive all overdraft fees if they occur on four or fewer business days within the current and previous 12 monthly statement periods.
Chase does not specify how long you can keep a negative balance before it takes further action. However, if you do experience an overdraft on your Chase account, it’s best to rectify it quickly. Otherwise, you may risk Chase closing your account and reporting your overdrafts to a consumer reporting agency.
In addition to tracking your spending carefully to avoid overdrafts, it’s a good idea to add an extra layer of protection for yourself by linking a Chase savings account to your checking account. That way, in the event that you do overdraw your account, Chase will transfer the exact amount needed to pay for the remainder of the transaction from your Chase savings account to your checking account.
You won’t pay a fee for this service. You can opt out of Chase debit card overdraft coverage at any time to avoid the fees and have any transaction for more than your balance be automatically rejected.
Chase offers overdraft waivers depending on the account you have.
Both Chase Private Client Checking℠ and Chase Sapphire℠ Checking clients will have overdraft fees waived if items are presented or withdrawal requests are submitted against an account with insufficient funds on four or fewer business days within the past year.
If you notice an overdraft fee on your bank statement, you might be able to get it waived. Follow these steps to try to get a Chase overdraft fee waived:
Chase uses a specific fee schedule for overdraft charges. While it won’t charge you a fee if you overdraw your account for $50 or less or if you take proactive action to bring an overdrawn balance to less than $50 by the end of the next business day, you may incur unexpected charges otherwise. To avoid overdraft fees, keep a close eye on your account and avoid spending more than your available balance. You can also consider linking your Chase checking account to another Chase account to cover unexpected overdrafts that arise.
Virginia Anderson contributed to the reporting for this article.
Information is accurate as of April 26, 2024.
The information related to Chase Private Client and Chase Sapphire Checking was collected by GOBankingRates and has not been reviewed or provided by the issuer of these products. Product details may vary. Please see issuer website for current information. GOBankingRates does not receive commission for these products.
*With Chase Overdraft Assist SM , Chase won’t charge an insufficient funds fee if you’re overdrawn by $50 or less at the end of the business day, or if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 p.m. ET, or 8 p.m. PT, to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.
Editorial Note: This content is not provided by Chase. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Chase.
