We independently evaluate the products we review. When you buy via links on our site, we may receive compensation. Read more about how we vet products and deals.
How to get an overdraft fee refunded at all of the major banks in 2023
It happens to the best of us: life gets extra busy and you accidentally overdraw money from your checking account. Maybe you didn't have time to balance your checkbook, mindlessly overspent or didn't give that last deposit enough time to clear. Whatever your reason, finding an overdraft fee on your bank statement always stings.
What is an overdraft fee?
An overdraft fee — also called an insufficient funds fee — is the charge you accrue when you withdraw more money than you have in your account, and your balance dips below zero.
How much do banks charge for overdraft fees?
These fees aren't peanuts, either: the average overdraft fee is $35. A bank will usually ding your account each day you're overdrawn, often more than once a day. Some banks even charge up to 12 overdraft fees per day!
Do banks give refunds on overdraft fees?
Overdraft fees cost customers more than $8 billion per year. If you're not paying attention, overdraft fees can pile up. Bloomberg News has reported that overdraft fees cost U.S. consumers a cumulative $8 billion per year. But here's some happy news: it is possible to get an overdraft fee refunded at most major banks in the United States.
How do I ask my bank to get an overdraft fee refunded?
Bank employees tend to be forgiving of situations that arose from honest mistakes or human error. In many cases, simply explaining your situation will result in a waived overdraft fee — especially if you're a loyal customer with a solid reputation and accounts in good standing. Some banks even have formal programs for either waiving overdraft fees or preventing them. And many banks are doing away with overdraft fees altogether, making it a non-issue.
Which major banks in the U.S. offer overdraft fee refunds in 2023?
Overdraft fee amounts and rules vary by bank. The major banks below also differ in how they deal with refunding those fees. Some even offer formal overdraft fee protection services that prevent those fees altogether in most (usually not all) cases.
How to get an overdraft fee refunded at Bank of America
Overdraft fee: $10 per transaction
Overdraft fee protection: Yes
How it works: Bank of America will charge up to two overdraft fees per day up to $20. The bank's Balance Connect program for overdraft fee protection lets you link up to five other Bank of America accounts to your checking account. If you overdraw your checking account, the bank will pull from one of those backup accounts to cover the charge and avoid an overdraft fee. If you don't have any linked accounts, or you don't have enough funds to cover that transaction in those accounts, Bank of America will either decline the transaction or cover it for you, resulting in an overdraft fee. Read more here.
How to get an overdraft fee refunded: Since Bank of America does a lot on the front end to avoid overdraft fees, there's no formal policy for refunding them. If you do receive an overdraft fee, your best bet is to contact customer service at 1-800-432-1000 between the hours of 8 a.m. and 11 p.m. ET Monday through Friday or 8 a.m to 8 p.m. ET Saturday and Sunday to plead your case.
How to get an overdraft fee refunded at Chase
Overdraft fee: $34 per transaction
Overdraft fee protection: Yes
How it works: Chase charges one "insufficient funds fee" for each transaction starting with the first transaction of the day that overdraws your account by more than $50. The bank charges up to three fees per business day, up to $102. Its Chase Overdraft Assist program, built into most of its checking account types, will waive overdraft fees only up to $50 overdrawn. If you have the popular Chase Total Checking, they'll just decline the transaction rather than let your account be overdrawn. Read more here.
How to get an overdraft fee refunded: Chase's rules are on the strict side, but they're known to forgive overdraft fees if you have a good excuse. Call 1-800-935-9935 to speak with a representative Monday to Friday from 7 a.m. to 11 p.m. ET or Saturday and Sunday from 10 a.m. to 7 p.m. ET.
How to get an overdraft fee refunded at Citizens Bank
Overdraft fee: $35 per transaction
Overdraft fee protection: Yes
How it works: Citizens Bank will charge up to five overdraft fees per day up to $175 per day. Citizens Peace of Mind program comes with both its checking and money market accounts. The bank will alert you the next day if your account is overdrawn and rebate your overdraft fee if you respond by bringing your balance to zero by 10 p.m. ET that day. Read more here.
How to get an overdraft fee refunded: Call 1-800-922-9999 Monday to Friday from 7 a.m. to 10 p.m. ET or Saturday and Sunday from 9 a.m. to 6 p.m. ET.
How to get an overdraft fee refunded at First Republic
Overdraft fee: $30 per transaction
Overdraft fee protection: Yes
How it works: First Republic will charge up to four overdraft fees per day up to $120. But if you link another account to your First Republic account, the bank will use that backup account to cover you if you're overdrawn instead of accruing a fee. Read more here.
How to get an overdraft fee refunded: Call 1-888-408-0288 Monday to Friday from 5 a.m. to 9 p.m. PT, Saturday from 6 a.m. to 8 p.m. PT, or Sunday from 7 a.m. to 5 p.m. PT.
How to get an overdraft fee refunded at PNC Bank
Overdraft fee: $36 per transaction
Overdraft fee protection: Yes
How it works: PNC Bank will charge up to four overdraft fees per day up to $144, but they offer a 24-hour grace period to get your account balance to $0 before assessing it. The bank has a tool called Low Cash Mode that gives you real-time alerts via its app if you've overdrawn. It also lets you link another bank account to cover overdraws, but since you're getting the alert anyway, you can also just choose to decline the transaction. Read more here.
How to get an overdraft fee refunded: Call 1-888-762-2265 Monday to Friday from 8:30 a.m. to 4 p.m. ET.
How to get an overdraft fee refunded at TD Bank
Overdraft fee: $35 per transaction
Overdraft fee protection: Yes
How it works: TD Bank will charge up to four overdraft fees per day up to $105 a day. Its TD Overdraft Relief feature offers a grace period up to 11 p.m. ET the next business day to bring your account balance to $0, and it will refund the overdraft fee for you. You can also open a TD Bank savings account and link it to your checking account, then enable Savings Overdraft Protection to use it as a backup account to cover your overdraws. Read more here.
How to get an overdraft fee refunded: Call 1-888-751-9000 Monday to Friday from 9 a.m. to 11 p.m. ET or Saturday and Sunday from 10 a.m. to 7 p.m. ET.
How to get an overdraft fee refunded at US Bank
Overdraft fee: $36 per transaction
Overdraft fee protection: Yes
How it works: US Bank will charge up to three overdraft fees per day up to $108 a day. Its U.S. Bank Overdraft Fee Forgiven feature offers a grace period up to 11 p.m. ET the next business day to bring your account balance to $0, and it will refund the overdraft fee for you. You can also link an "eligible account" (determined by the bank) to your checking account as a backup account to cover your overdraws. Read more here.
How to get an overdraft fee refunded: Call 1-800-872-2657 Monday to Friday from 8 a.m. to 8 p.m. CT or Saturday from 8 a.m. to 6:30 p.m. CT.
How to get an overdraft fee refunded at Wells Fargo
Overdraft fee: $35 per transaction
Overdraft fee protection: Yes
How it works: Wells Fargo will charge up to three overdraft fees per day up to $105 a day. The bank offers a grace period up to midnight ET the next business day to bring your account balance to $0, and it will refund the overdraft fee for you. If you have the bank's Consider Clear Access Banking checking account, you'll have no overdraft fees but will pay a $5 monthly service fee. Read more here.
How to get an overdraft fee refunded: Call 1-800-869-3557 24 hours a day 7 days a week.
Which major banks in the U.S. don't charge overdraft fees?
A lot of major banks are getting in on the no-overdraft fee bandwagon. In this case, you won't have to worry about overdraft fees at all. In most cases, the bank will simply decline a transaction or payment if you have insufficient funds, or the bank will pay the overdraft fees. These banks include:
