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Why an overdraft (and a fee) may occur

An overdraft occurs when you don’t have enough money to cover a transaction and U.S. Bank covers it for you. Here’s how we handle the different transaction types.

Overdraft Coverage included with your account

Automatically included • Opt-out not available

  • Checks
  • Electronic & automatic bill payments
  • Recurring debit card charges (e.g., subscriptions)

This is our standard Overdraft Coverage. You may be charged a $36 Overdraft Paid Fee for each transaction we cover for you.1

Optional additional Overdraft Coverage

You choose • Not enrolled by default

  • ATM withdrawals
  • Everyday debit card transactions

We understand that declines can be disruptive. So, if you want us to attempt to cover these transactions, you can opt in to Overdraft Coverage. You may be charged a $36 Overdraft Paid Fee for each transaction we cover for you.1

Opt in to Overdraft Coverage

How we help you steer clear of Overdraft Paid Fees

Think of these as layers of protection – from a small cushion, to extra time, to a linked safety net.

A $50 cushion for the oops moments

If your account’s Available Balance at the end of the business day is overdrawn by $50 or less, you will not be charged an Overdraft Paid Fee that day.

Overdraft Fee Forgiven: Extra time to cover a shortfall

If your account is overdrawn by $50.01 or more, then Overdraft Fee Forgiven gives you time to take action to get the fee reversed. Make qualifying deposits2 to cover the overdraft by 11 p.m. ET on the day the Overdraft Paid Fee was charged, and we’ll reverse the charge that day.2

Learn about Overdraft Fee Forgiven

Overdraft Protection: Link an eligible backup account for added peace of mind

Few things are more frustrating than having an overdraft when you have money sitting in another account. With Overdraft Protection, you can prevent this from happening.

Link an eligible account to automatically cover overdrafts. When your Available Balance is negative, we transfer funds from your backup account, so transactions go through without an Overdraft Paid Fee.3 There is no fee when an Overdraft Protection transfer is made from a linked deposit account (e.g., a U.S. Bank savings, money market or secondary checking account). Learn about Overdraft Protection.

Link an eligible backup account

Stay ahead of overdraft surprises

Being informed is being in control. A couple of quick steps in the app can help keep you up to date.

Low balance notifications

Get a heads up when your balance runs low,4 so you can move money or hold off on a purchase.

Learn about custom notifications

Spending Tracker

See what’s coming in and going out at a glance, right inside the U.S. Bank Mobile App.

Learn about our Spending Tracker

Money management made easy

Explore the many benefits of the award-winning U.S. Bank Mobile App5 and online banking.

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Smarter together

Link your U.S. Bank Smartly® Savings and your U.S. Bank Smartly® Checking accounts together to set up Overdraft Protection. You’ll also enjoy a waiver of the $5 Monthly Maintenance Fee,6 a higher Smartly Savings annual percentage yield (APY), greater rewards and more. Apply for both accounts in under 5 minutes with just $25.

Just need a savings account? Apply now.

Learn the benefits of bundling

Frequently asked questions

Overdraft basics

An overdraft is a situation that can occur when there isn’t enough money available in your checking account to cover a purchase, payment or withdrawal. What happens next depends on the type of transaction and the overdraft services available on your account.

An overdraft can occur when a transaction is greater than the Available Balance in your account at the time it’s processed. This may happen with checks, electronic payments, automatic bill payments, recurring debit card charges, ATM withdrawals, or everyday debit card purchases.

At U.S. Bank, if the Available Balance in your account isn’t enough to cover a transaction, the outcome depends on the type of transaction and the overdraft services available on your account:

  • U.S. Bank may choose to cover the transaction through Standard Overdraft Coverage (included with your account) or additional Overdraft Coverage that you opt in to.
  • Funds may be transferred from an eligible linked account if you’ve set up Overdraft Protection.
  • The transaction may be declined.

If an overdraft fee is charged, Overdraft Fee Forgiven may give you an opportunity to have eligible fees waived when certain requirements are met.

Overdraft solutions

The following Overdraft Solutions are available at U.S. Bank.

  • Standard Overdraft Coverage (included with your U.S. Bank Smartly Checking Account): This covers electronic and automatic bill payments, recurring debit card charges (such as subscriptions), and any checks you’ve written. You may be charged a $36 Overdraft Paid Fee for each transaction we cover for you.
  • Additional Overdraft Coverage (requires opt in): You may choose to opt in to additional Overdraft Coverage for two types of transactions – everyday debit card transactions and ATM withdrawals. You may be charged a $36 Overdraft Paid Fee for each transaction we cover for you.
  • Overdraft Protection: You may choose to set up Overdraft Protection which allows U.S. Bank to transfer money from an eligible linked account7 to cover the shortfall. There is no fee when an Overdraft Protection transfer is made from an eligible linked deposit account.
  • Overdraft Fee Forgiven: If an overdraft occurs and a fee is charged, Overdraft Fee Forgiven may give you an opportunity to have eligible fees waived when certain requirements are met.

Overdraft Protection: Allows U.S. Bank to transfer money from an eligible linked account (like a savings account or Reserve Line of Credit) to cover a shortfall in your checking account when a transaction exceeds your Available Balance. There is no fee when an Overdraft Protection transfer is made from an eligible linked deposit account.7

Standard Overdraft Coverage (automatically included with your U.S. Bank Smartly Checking Account): U.S. Bank may authorize and pay overdrafts for these types of transactions for a fee:

  • Checks and other transactions using your checking account number
  • Automatic bill payments
  • Recurring debit card transactions (such as automatic gym dues)

We will not authorize and pay overdrafts for these types of transactions unless you chose to enroll in ATM and debit card optional additional Overdraft Coverage.

  • ATM transactions
  • Debit card purchases (e.g., paying for gas at the pump, buying groceries, buying something online)

Each overdraft item we pay on your behalf may be subject to a $36 Overdraft Paid Fee. Please see your Consumer Pricing Information (PDF) for more information.

When you link eligible accounts with Overdraft Protection, funds will be automatically transferred from an eligible linked account of your choosing.

Yes, U.S. Bank can notify you via text message, email or push notification. Please see Account Notifications for more information.

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Disclosures

  1. In the event the Available Balance at the end of the business day is or would be overdrawn $50.01 or more and the transaction paid is $5.01 or more, an Overdraft Paid Fee may be assessed for each item. In the event the Available Balance at the end of the business day is or would be overdrawn $50.00 or less, an Overdraft Paid Fee will not be assessed. U.S. Bank limits the number of charges to a daily maximum of three Overdraft Paid Fees per day, no matter how many items we pay on your behalf.

  2. U.S. Bank Overdraft Fee Forgiven Program - Consumer checking accounts (excluding Safe Debit accounts) assessed an Overdraft Paid Fee may qualify for a fee waiver. The Overdraft Fee Forgiven period starts the first business day your Available Balance becomes negative and you were charged an Overdraft Paid Fee(s). U.S. Bank will review your account at the end of the Overdraft Fee Forgiven period (11 p.m. ET) and if your Available Balance (excluding the Overdraft Paid Fees and including immediate and same day deposits), is at least $0 we will waive Overdraft Paid Fee(s) charged. Deposits that generally will qualify for Overdraft Fee Forgiven include: ACH and electronic deposits, cash deposits, wire transfers, ATM deposits at U.S. Bank ATMs, check deposits in branch and internal transfers from another U.S. Bank account. Deposits that generally will not qualify for Overdraft Fee Forgiven include: Mobile check deposit, extended hold placed on a deposit and deposits into new accounts opened less than 30 days where funds are generally made available the third business day after the day of your deposit. Refer to the Determining the Availability of a Deposit – All Accounts section of Your Deposit Account Agreement (PDF) for full funds availability details.

  3. Overdraft Protection Transfer Fees are waived on U.S. Bank Smartly Checking accounts. If you have linked eligible accounts, and the negative Available Balance in your checking account is $5.01 or more, the advance amount will transfer in multiples of $50. If, however, the negative Available Balance is $5 or less, the amount advanced will be $5. The Overdraft Protection Transfer Fee is waived if the negative Available Balance in your checking account is $50 or less. Please note, if you have Overdraft Protection and your account becomes overdrawn, Overdraft Protection funds will be accessed before the account is eligible for Overdraft Fee Forgiven. No Overdraft Protection Transfer Fee(s) will be charged for transfers from linked deposit accounts.

    Refer to Your Deposit Account Agreement (PDF), section titled Overdraft Protection Plans, for additional information.

  4. For text alerts, standard messaging charges apply through your mobile carrier and message frequency depends on account settings. Please be advised that these alerts may not be sent immediately. Visit Cellular phone contact policy for additional information.

  5. Digital financial services benchmarking firm Keynova Group ranked U.S. Bank #1 for mobile banking apps in its Q3 2024 Mobile Banker Scorecard.

  6. Bank Smartly Savings account Monthly Maintenance Fee: The $5 monthly maintenance fee is waived when you are an owner of a Bank Smartly® Checking, Safe Debit account, Bank Smartly™ Visa Signature® Card, or for accounts with a minor under the age of 18.

  7. Overdraft account signers – Account holders who are signers on the checking account must also be signers on the account linked for overdraft protection.

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Deposit products are offered by U.S. Bank National Association. Member FDIC.