Chase Overdraft Fees: How Long Can My Chase Bank Account Be Negative?

According to the Consumer Finance Protection Bureau, banks make more than $1 billion per quarter on overdraft fees.

While these fees vary, the Chase overdraft fee is on the high end of what most banks charge. You’ll have to pay $34 each time you overdraft your account by more than $50. The bank can even charge up to three overdraft fees per day if you continue to overdraw your account.

You do need to pay off your negative balance as soon as possible. If you don’t, it can result in a closed account and other consequences that could hurt your credit and increase your debt. Chase doesn’t disclose exactly how long you have to resolve a negative balance, so the best approach would be to resolve it as soon as you can. Stay in communication with Chase if you have extenuating circumstances like a job loss or illness, and they may be willing to help you.

Learn more about what happens if your Chase account becomes negative, how to prevent it, and ways to save money on overdraft fees.

Key takeaways

• Chase has several overdraft options that can minimize how much you pay in fees.
• Chase doesn’t charge an overdraft fee for items that are $5 or less.
• The Chase overdraft fee is one of the highest in the industry. You can save money by switching to a bank that doesn’t have overdraft fees.
• Chase First Checking, Chase High School Checking, and Chase Secure Checking don’t have overdraft fees.

How long can your Chase bank account be negative?

It’s good to pay off a negative balance as quickly as possible. There’s some talk in online forums like Reddit that Chase offers up to 60 days to resolve a negative balance. However, since that’s not stated in any publicly available documentation from Chase itself, don’t count on that. In fact, Chase states, “You must immediately pay the amount of any overdraft along with any fees that apply” in its deposit account agreement.

And it states that it could report you to consumer reporting agencies, close your account, or both.

So don’t drag things out. The best route is to resolve your negative balance as soon as you can.

How do overdrafts work at Chase?

Standard overdraft practice

Chase’s standard overdraft practice is that it may pay overdraft transactions based on your overall account history and the amount of the transaction. If it does pay, it charges the $34 standard overdraft fee.

The overdraft fee applies to all checking accounts except Chase High School Checking, Chase Secure Checking, and Chase First Checking. Checks, automatic payments, and recurring debit card purchases are covered in these three accounts.

Everyday debit card transactions are not covered. If you have recurring payments that come out of your account, like your cell phone bill, it will go through but make your account balance negative if you don’t have enough funds. You will then incur the overdraft fee.

The good news? Chase won’t charge an overdraft fee for transactions below $5. Rejected withdrawal requests at ATMs and debit card transactions that were authorized when you had sufficient funds will also not incur overdraft fees.

Chase overdraft assist

Chase Overdraft Assist allows you to avoid overdraft fees if you overdraw by less than $50 or have a negative balance of $50 or less by the end of the day. The deadline to get your negative balance at -$50 or less is 11 p.m. Eastern (8 p.m. Pacific). This program is not available for checking accounts that do not have overdraft fees.

Chase overdraft protection

Chase overdraft protection lets you link a savings account to your checking account. If you make a purchase that would overdraw your checking account, Chase transfers funds from your savings account to cover the difference. This feature is not available for Chase Secure Checking or Chase First Checking accounts.

Overdraft protection covers all transactions, but it will not work if you have insufficient funds in your checking and savings account. Overdraft protection transfers are free.

Accounts with no overdraft fees

Not every bank charges overdraft fees. While traditional banks usually have high overdraft fees, you can get fewer fees and higher-yielding savings accounts if you work with an online bank or fintech company.

It’s even possible to not pay overdraft fees if you overdraw your account.

You still have to repay a negative balance, but some banks make it easier for their customers to get back to positive balances.

These are two online account options that do not have any overdraft fees.

SoFi®

SoFi® provides online-only banking, does not charge overdraft fees and has many of the features and products you would expect from a traditional bank.¹ <p>We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incoming wire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Checking & Savings Fee Sheet for details at <a href="http://sofi.com/legal/banking-fees/">sofi.com/legal/banking-fees/</a></p> SoFi also helps people get loans, build investment portfolios, and take out insurance policies.

SoFi® has one of the best checking accounts due to its 0.50% (as of 12/3/24) APY with direct deposit.² <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) <b>OR</b> $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="http://sofi.com/banking">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p> <p>SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of Dec. 3, 2024. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a></p> Overdraft coverage is up to $50.³ <p>Overdraft Coverage is limited to $50 on debit card purchases only and is an account benefit available to customers with direct deposits of $1,000 or more during the current 30-day Evaluation Period as determined by SoFi Bank, N.A. The 30-Day Evaluation Period refers to the “Start Date” and “End Date” set forth on the APY Details page of your account, which comprises a period of 30 calendar days (the “30-Day Evaluation Period”). You can access the APY Details page at any time by logging into your SoFi account on the SoFi mobile app or SoFi website and selecting either (i) Banking > Savings > Current APY or (ii) Banking > Checking > Current APY. Members with a prior history of non-repayment of negative balances are ineligible for Overdraft Coverage.</p> Member FDIC.⁴ <p><b>SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $2M through participation in the program. See full terms at <a href="http://sofi.com/banking/fdic/terms">SoFi.com/banking/fdic/terms</a> See list of participating banks at <a href="http://sofi.com/banking/fdic/receivingbanks">SoFi.com/banking/fdic/receivingbanks</a></b></p>

Visit SoFi® | Read our SoFi review

Chime®

This fintech company offers banking services, credit cards, and debit cards through The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC.⁵ <p class="">Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank, N.A. or Stride Bank, N.A.; Members FDIC.&nbsp;<br></p> And it lets you access cash from more than 50,000 fee-free ATMs.⁶ <p>Out-of-network ATM withdrawal and over the counter advance fees may apply except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.</p>

Chime also offers a fee-free overdraft of up to $200 for eligible members through SpotMe®.⁷ <p>SpotMe® for Credit Builder is an optional, no interest/no fee overdraft line of credit tied to the Secured Deposit Account; SpotMe on Debit is an optional, no fee service attached to your Chime Checking Account (individually or collectively, “SpotMe”). Eligibility for SpotMe requires $200 or more in qualifying direct deposits to your Chime Checking Account each month. Qualifying members will be allowed to overdraw their Chime Checking Account and/or their Secured Deposit Account up to $20 in total, but may be later eligible for a higher combined limit of up to $200 or more based on member’s Chime account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your SpotMe Limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your SpotMe Limit. Your SpotMe Limit may change at any time, at Chime or its banking partners’ discretion. Although there are no overdraft fees, there may be out-of-network or third party fees associated with ATM transactions or OTC cash withdrawal fees at retailers. SpotMe won't cover non card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. <a href="https://www.chime.com/policies/">SpotMe on Credit Builder Terms and Conditions</a>.</p> Limits for SpotMe start at $20, and you need to receive a single deposit of $200 or more to be eligible to enroll. Chime determines limits based on your account history and activity.

You also won’t have to worry about monthly service fees or minimum balance fees with Chime.⁸ <p>There’s no fee for the Chime Savings Account. Cash withdrawal and Third-party fees may apply to Chime Checking Accounts. You must have a Chime Checking Account to open a Chime Savings Account.</p> Chime’s range of financial products isn’t as vast as SoFi’s, though.

Visit Chime | Read our Chime review

FAQ

Bottom line

Chase is one of the many banks that charge expensive overdraft fees if you overdraw your account, and the bank can make up to three charges per day if you continue to build up a negative balance.

If overdraft fees are a recurring issue, you may want to use a different bank. Some online banks don't charge overdraft fees if you overdraw your balance. These banks usually have more competitive rates and terms too. For instance, you can get a 0.50% (as of 12/3/24) APY with direct deposit from a SoFi checking account.² <p>New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Direct Deposits received during the Direct Deposit Bonus Period) <b>OR</b> $300 (with at least $5,000 total Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at <a href="http://sofi.com/banking">sofi.com/banking</a>. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC.</p> <p>SoFi members with Direct Deposit can earn 4.00% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Direct Deposit amount required to qualify for the 4.00% APY for savings (including Vaults). Members without Direct Deposit will earn 1.20% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of Dec. 3, 2024. There is no minimum balance requirement. Additional information can be found at <a href="http://www.sofi.com/legal/banking-rate-sheet">http://www.sofi.com/legal/banking-rate-sheet</a></p> That’s a higher rate than what some traditional banks offer for their “high-yield” savings accounts.

If you have an overdraft fee, contact your bank’s support as quickly as possible. Reaching out and demonstrating your loyalty while being courteous during the call could help you get a refund for your overdraft fee.

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No minimum initial deposit

Offers overdraft assistance⁹ <p>With Chase Overdraft Assist℠, we won’t charge an Overdraft Fee if you’re overdrawn by $50 or less at the end of the business day OR if you’re overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.</p>

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