Can you overdraw your checking account

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Credit Cards. Checking Accounts. Savings Accounts. Home Equity. Invest with a J. Morgan Advisor. Online Investing with J. Chase for Business. Commercial Banking. Each overdraft item we pay on your behalf will be subject to "Overdraft Paid Fees". Overdraft account signers - Account holders who are signers on the checking account must also be signers on the account linked for overdraft protection.

Overdraft credit products eligibility — Credit products are subject to eligibility requirements and normal credit approval and may be subject to additional charges as detailed in the account agreement.

Interest will accrue on amounts advanced. Credit products are offered through U. Bank National Association. Equal Housing Lender. Skip to main content. About us Financial education. Support Locations Search. Before you go, be sure you know: This link takes you to an external website or app, which may have different privacy and security policies than U.

You are here:. For ZIP Edit. Overdraft protection How to avoid negative balances and overdrafts. What is an overdraft? What is overdraft protection? How can I get overdraft protection? Eligible U. Bank accounts include: U. Bank savings and money market accounts U. When the primary account reaches zero, funds from the other account are used transferred to cover the amount.

You will usually pay a small fee for the transfer. Ideally, your linked account would be a savings account or another checking account. You typically want to avoid using a credit card as your backup account , because it will likely be processed as a cash advance.

Third, if you do not have overdraft coverage or protection and your bank decides not to foot the bill, it will refuse the transaction. If you have overdrawn your account or have insufficient funds, here are steps to consider taking.

If you have funds to cover the expense, or just to add cushion to your account, you might make a transfer. A quick transfer can help prevent multiple overdrafts in a short time period. It can also allow you to reinitiate a charge from a merchant that previously failed due to insufficient funds. It can never hurt to ask, and if you have not had this problem before, the bank may be willing to waive the fee as a one-time courtesy. Failure to pay an overdraft fee could lead to a number of negative consequences.

The bank could close your account, take collection or other legal action against you, and even report your failure to pay, which may make it difficult to open checking accounts in the future. But, try to pay the fee as quickly as you can. In that case, not only do you need to settle up with the bank to pay the NSF fee, but you also need to settle up with the third party.