Chase Overdraft Fees, Limits and Protection: How To Get Them Waived

Chase Bank financial services
Michael Vi / Shutterstock.com

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.

How Much Chase Overdraft Fees Cost

Whenever you overdraw your account, Chase’s standard procedure is to charge a $34 insufficient funds 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 Overdraft Fee Rules and Limits

Chase’s overdraft rules are fairly straightforward. Per its fee schedule, Chase allows fees for three overdrafts per day, whether due to insufficient funds or returned items, for a total daily charge of up to $102.

Chase will not charge you an overdraft fee if:

  • You have Chase Overdraft Assist℠* and your account balance at the end of the day is overdrawn by $50 or less, or you bring your account balance up to being overdrawn by $50 or less by the end of the next business day.
  • Your purchase is $5 or less.
  • You use your Chase debit card for a transaction when there is still enough money in your account to cover it.
Upgrade Your Checking Account

Chase notes you can avoid the overdraft by transferring funds to cover the difference before the end of the business day. The cutoff times are:

  • At a branch: Before it closes
  • At an ATM: Before 11 p.m. EST 
  • Transferring money online, through the app or via Zelle: Before 11 p.m. EST

How Chase Applies Deposits and Withdrawals

Chase applies withdrawals and deposits in the following order:

  1. Chase first adds all your deposits to your account.
  2. Then, it subtracts all wire transfers, regular debit card transactions, online transactions, teller withdrawals, Chase ATM withdrawals and any checks that are cashed at a teller station.
  3. Finally, Chase subtracts all other items, including checks that are cashed or deposited.

So, Chase essentially gives you a grace period — you get until the end of the day to deposit enough money to cover your checks and debit transactions and avoid the overdraft fees.

How Do I Overdraft My Chase Account?

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 $50 or more, and you don’t deposit money to bring your account to good standing by the end of the business day, overdraft fees may apply.

How Much Does Chase Let You Overdraft?

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.

Upgrade Your Checking Account

Can I Get My Chase Overdraft Fee Waived?

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℠ and Chase Sapphire℠ Checking, waive all overdraft fees if they occur on four or fewer business days within a 12-monthly statement rolling period.

How Long Can My Chase Account Be Negative?

Chase does not specify how long you can keep a negative balance before they take 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. 

How To Get Chase Overdraft Protection

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 to your checking account.

Upgrade Your Checking Account

You won’t pay a fee for this service, but you’re limited to six savings withdrawals per month before a $5 fee applies to subsequent withdrawals. 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.

Is Overdraft Protection Worth It?

Overdraft protection basically covers you going over your available funds by transferring money from your Chase savings account. This covers all transactions, which gives you a bit of flexibility with spending. But an overdraft protection transaction counts toward your limit of six monthly savings withdrawals per statement period.

The withdrawal fee is $5 each after the first six. Exceeding the six-withdrawal limit can also result in Chase automatically converting your savings account to a checking account, which would cost you your overdraft protection and any future interest you might’ve earned on your savings.

How To Get Chase Overdraft Fees Waived

Chase offers overdraft waivers depending on the account you have:

Both Chase Private Client℠ and Chase Sapphire℠ Checking clientswill have overdraft fees waived if items are presented or withdrawal requests are submitted against an overdraft account 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:

  1. Call Chase customer service at 800-935-9935.
  2. Politely explain that you have been charged an overdraft fee and would like to see if the representative can remove the charge.
  3. If you’ve been a longtime Chase customer, mention you’ve been a loyal bank customer.
  4. Ask an open-ended question such as, “What can you do for me?” Questions like this don’t allow a simple “no” answer like asking, “Can you waive this fee?”
  5. If the representative denies your request, go to a bank to ask in person or hang up and call again. Another representative might be more accommodating.
Upgrade Your Checking Account

Final Take

Chase uses a specific fee schedule for overdraft charges. While it won’t charge you a fee if you overdraft your account for $5 or less or you take proactive action to bring an overdrawn balance to less than $50 by the end of the 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. 

More on Chase

More on Overdraft Fees

Virginia Anderson contributed to the reporting for this article.

Information is accurate as of Nov. 27, 2023.

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.

*Chase charges a $34 Insufficient Funds Fee per item during its nightly processing beginning with the first item that overdraws your account balance by more than $50 (maximum of 3 fees per business day, up to $102).

*With Chase Overdraft AssistSM, 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.

Upgrade Your Checking Account

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.

DIVE DEEPER

Discover the Best Banks of 2024: Unveiling Our Top Picks!

We've compiled a list of the top banks for this year!

TAKE POLL

TAKE ACTION

Here Are the Pros and Cons of Using Multiple Banks

Shot of a woman using a laptop while going through paperwork at home.

Many banks are one-stop-shop financial institutions...

BEFORE YOU GO

See Today's Best
Banking Offers