U.S. Bank knows that overdrafts can happen, and we want to do what we can to make sure to help you when they do. Our options—alone or combined—can help cover transactions when the available balance in your checking account is or will become negative.
Types of Overdraft Options
Standard Overdraft Coverage: It’s already yours
Most* consumer checking and money market accounts with U.S. Bank automatically come with Standard Overdraft Coverage. With this coverage, the following transactions may be covered:
*Please note that the Safe Debit Checking account does not provide Standard Overdraft Coverage.
How does it work?
We’ll authorize and pay overdrafts for the above transactions at our discretion. That means we do not guarantee that we’ll always authorize and pay any type of transaction. If we don’t authorize and/or pay a transaction that would cause an overdraft, your transaction will be declined or returned. You will not be charged a fee for a declined or returned item if this occurs.
Are there fees?
Yes. U.S. Bank will charge a Overdraft Paid Fee of $36.00 for each item we pay on your behalf. We charge that fee only when the overdraft item we pay on your behalf is $5.01 or more and your negative available balance is $50.01 or more.
There’s no fee for each overdraft item we pay on your behalf that is $5.00 or less. If your Available Balance at the end of the business day is overdrawn by $50.00 or less, an Overdraft Paid Fee will not be charged.
U.S. Bank limits the number of charges to a daily maximum of three (3) Overdraft Paid Fees per day, no matter how many items we pay on your behalf.
ATM & Debit Card Overdraft Coverage: You make the choice
If you say ‘no’ to ATM & Debit Card Overdraft Coverage, we’ll decline your transaction, and you won’t be charged an Overdraft Paid Fee.
If you say ‘yes’ to ATM & Debit Card Overdraft Coverage, the following transactions may be paid (at the bank's discretion) and you may be charged an Overdraft Paid Fee:
You must make a choice of ‘yes’ or ‘no’ for each Consumer Checking and Money Market account, but you can change your election at any time.
Are there any other options?
There sure are. We offer another option for covering overdrafts, which may be less expensive than our standard overdraft coverage listed below.
U.S. Bank Overdraft Fee Forgiven
All consumer checking accounts (excluding Safe Debit Accounts) are eligible for U.S. Bank Overdraft Fee Forgiven, which gives you extra time to bring your account to a zero or positive balance to waive those fees.
The Overdraft Fee Forgiven period starts the first day the 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 at 11 p.m. ET on the day we charge the Overdraft Paid Fee(s). If there are qualifying deposits and the available balance* is at least $0, we will automatically waive the Overdraft Paid Fee(s).
*Excluding the Overdraft Paid Fee(s) and including immediate and same day deposits.
Deposits that generally will qualify for Overdraft Fee Forgiven include:
Deposits that generally will not qualify for Overdraft Fee Forgiven include:
Please see your Deposit Account Agreement disclosure for more information.
This option allows you to use another account to cover overdrafts on your checking account. All you have to do is link an eligible account* to your checking account to cover transactions which overdraw your checking account.
How it works:
Account holders who are signers on the checking account must also be signers on the account linked for overdraft protection.