Chase Overdraft Service Information: So what is an overdraft? An overdraft takes place when you don’t have enough money in your account available to pay for a transaction. This could result in a fee, so Chase has a Standard Overdraft Practice that comes with your Chase checking accounts. This service offers Overdraft Protection and Chase Debit Card Coverage, which are optional services that can help pay overdrafts when they occur. See below for more info regarding Chase Overdraft Service!
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Chase Overdraft Service Information
Their Standard Overdraft Practice may pay, for a fee, overdraft transactions at their discretion based on your account history, the deposits you conduct, and the transaction amount. However, they do not guarantee that they will always pay your overdraft transaction, and if they do not pay your transaction, the transaction will be declined or returned unpaid.
Note: Standard Overdraft Practice is not available for Chase High School Checking; however, Returned Item Fees still apply.
- What It Pays Chase Overdraft
- Checks
- Automatic payments (e.g., recurring phone bill, mortgage or utility bill)
- Recurring debit card purchases (e.g., movie subscriptions or gym memberships)
- NOT Covered: Everyday debit card transactions (e.g., groceries, gasoline or dining out).
- What It Costs For Personal Checking Accounts Chase Overdraft
- If paid: $34 Insufficient Funds Fee per item
- If check or automatic payment is returned: $34 Returned Item Fee. If the same item is returned multiple times, only one fee will be charged for that item within a 30-day period.
- If recurring debit card transaction is declined: Transaction will NOT go through and you will NOT be charged a fee
- Maximum of three (3) of either of these fees per day, for a total of $102
- These fees are not charged if your account balance at the end of the business day is overdrawn by $5 or less, or for items that are $5 or less
- $15 Extended Overdraft Fee each time your account is overdrawn five (5) or more consecutive business days, even if your account is overdrawn by $5 or less
Needs some tips to avoid overdrawing? Avoid overdrawing your account by making a deposit or transferring funds to cover the overdraft before the business day ends. If you decide to deposit a check, this assumes that they do not place a hold and the check is not returned. Below are the cutoff times for some ways of making a deposit or transferring funds from another Chase account:
- At a branch before it closes Chase Overdraft
- At an ATM or when using the Transfer Money option on chase.com or Chase Mobile® before 11 PM Eastern Time (8 PM Pacific Time)
- Using Chase QuickPay® with ZelleSM before 10 PM Eastern Time (7 PM Pacific Time)
Chase Bank Online App
Still Have Questions?
- Reach someone helpful 24/7. Call 1-800-935-9935!
Author’s Verdict
Overdraft fees can get pretty serious if we have insufficient funds in our account to cover our transactions! If this is a problem, I would definitely get in touch with a banker to get more information on this Chase Overdraft Service. Another tip is to frequently check our balance and account activity so you are aware of what you do have and what you can/cannot spend. If you’re interested in more info regarding Chase Bank offers, check out our full listing of Chase Bank Deals, Bonuses, Rates, and Promotions. Be sure to check back on BankDealGuy for more bank deals!
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