Chase Bank allows you to make purchases with a debit card even if you don’t have sufficient credit or funds in your account using Overdraft protection.

Chase offers the overdraft protection and chase debit card coverage with their Chase checking accounts that are optional services that will help pay overdrafts if and when they do occur.

Think about a time you may have been waiting on an upcoming paycheck but needed to buy something essential like groceries or medicine, this service can be especially helpful to you. However, you will have to deal with fees unless you pay off the balance quickly.

Costs

• No fee to enroll
• Checking Account Overdraft fee
  • $34 Overdraft Protection Transfer Fee for each item (max of 3 insufficient funds/returned item fees per day)
  • $15 Extended Overdraft Fee for each item your account is overdrawn 5 or more consecutive business days, even if your account is overdrawn by $5 or less
  • Chase Premier Platinum Checking account waives the Extended Overdraft Fee. Insufficient Funds and Returned Item Fees are waived if you have had four or fewer Insufficient Funds or Returned Item occurrences in the past 12 months.
  • Not available for Chase High School Checking accounts
• Savings Account Overdraft fee
  • $34 Overdraft Protection Transfer Fee for each item (max of 3 insufficient funds/returned item fees per day)
  • $15 Extended Overdraft Fee for each item your account is overdrawn 5 or more consecutive business days, even if your account is overdrawn by $5 or less

Avoiding Fees

• Sign up for Account Alerts so you can stay updated on your Chase Total Checking® + Chase Savings^SM accounts.
• Sign up for the Chase Mobile® App and frequently check your account on Chase.com.
• Call 1-800-935-9935 or Check a Chase ATM to view your available balance.
• Avoid Overdrafts by making a deposit or transferring funds to cover the overdraft before the business day ends.
  • At a branch before it closes OR
  • 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) OR
  • Using Chase QuickPay® with ZelleSM before 10 PM Eastern Time (7 PM Pacific Time)

Note: No fee is charged if ending account balance is overdrawn by $5 or less, or for items that are $5 or less, even if your ending account balance is overdrawn.)

Debit Card Coverage

• Debit Card Coverage allows you to choose whether you want to opt for overdraft protection or not:
  • Select No, and your transaction will be declined and you won’t be charged a fee
  • Select Yes, and Chase may pay the overdraft transaction at their discretion based on your account history, the deposits you make, and the transaction amount
• If you are enrolled in Overdraft Protection and you have enough money in your linked Overdraft Protection backup account, your transaction will be approved and a transfer will be made.
• Avoid overdrawing your account by transferring money from another account using Chase’s helpful feature, QuickDeposit before the business day ends.

Bottom Line

If you’re between paychecks while making an important purchase, Chase Overdraft Protection is designed for you. When you try to buy something without having enough money on your card, you risk having your card declined. But with this service, your transaction will have no issues and you will only suffer from an overdraft protection fee.

If you need more assistance with your finances, Chase offer’s their Private Client Services and Credit Journey to help plan your goals. If you want to hear more about the services that Chase offers, head to our full list of Chase Checking Promotions for all your banking needs.

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