What types of overdraft options does U.S. Bank offer?

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 there isn’t enough money in your checking account.

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:
• Checks and other transactions using your checking account number
• Automatic bill payments
• Recurring debit card transactions (such as insurance payments or monthly membership fees).

*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.

Are there fees?
Yes. U.S. Bank will charge a Overdraft Paid fee of $36 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.

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 $5.00 or less, a fee will not be charged.

U.S. Bank limits the number of charges to a daily maximum of 4 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:
• ATM withdrawals
• Everyday debit card transactions

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.

Overdraft Protection
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:

  • If you overdraft on your checking account, funds will be automatically transferred from your linked account(s) to cover a negative Available Balance. Overdraft Protection Transfer Fees may apply. See Your Deposit Account Agreement and Consumer Pricing Information Disclosures for details.
  • You can link up to three eligible accounts and select the order you’d like the accounts accessed for funds.
  • We will use all available funds in your linked account(s) and if the advanced amount doesn’t cover the amount of the transaction(s), Standard Overdraft Coverage will apply.

* Eligible account types include a U.S. Bank Savings account, a secondary U.S. Bank personal Checking account, a U.S. Bank Reserve Line of Credit, a U.S. Bank Credit Card, a U.S. Bank Personal Line of Credit and U.S. Bank Home Equity Line of Credit. Lines of credit and credit cards are subject to eligibility requirements and normal credit approval. Credit products may be subject to additional charges such as annual fees, interest will accrue on the amounts advanced. Please refer to the line of credit or credit card agreement for full details.

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