If you have linked eligible accounts and the negative available balance in your checking account is $10 or more, the advance amount will transfer in multiples of $50. If, however, the negative available balance is less than $10, the amount advanced will be a maximum of $10 and the Overdraft Protection Transfer Fee will be waived.
If the account linked for Overdraft Protection does not have enough funds to cover the overdrawn amount, the remaining available balance will be transferred to reduce the overdrawn amount.
If there is more than one account linked to your checking account for Overdraft Protection and the available balance of the first linked account is not enough to cover the overdrawn balance, the next linked account will transfer funds in multiples of $50 to cover the remaining overdrawn balance.
Options, Options, OptionsU.S. Bank has three convenient ways for you to set up and manage (add, change or remove) overdraft protection and link your U.S. Bank Checking account to an eligible overdraft protection plan:
- Log in to U.S. Bank Internet Banking.
- Call us at 800-757-7147.
- Visit your local U.S. Bank branch to speak with a banker.
Frequently Asked Questions (FAQs)How does overdraft protection work?
With overdraft protection, you can link your checking account to an eligible U.S. Bank account to have funds automatically transferred to your primary checking account if you overdraw your checking account (advances are in multiples of $50).
For example, let’s say your checking account balance is $42 and the available balance in your account linked for overdraft protection is $1,000. If you write a check for $125 – this would overdraw your checking account balance by $83 – we would transfer $100 from your account linked for overdraft protection. The amount of the transfer would be $100 and an Overdraft Protection Transfer Fee of $10 would be charged to the checking account.
Which U.S. Bank accounts are eligible for overdraft protection?
U..S. Bank accounts eligible for overdraft protection include:
How can I set up and manage overdraft protection?For added convenience, we have three different ways that you can set up and manage (add, change or remove) overdraft protection:
- Log in to U.S. Bank Internet Banking.
- Call us at 800-US BANKS (800-872-2657).
- Visit your local U.S. Bank branch to speak with a banker.
Are there ways to reduce or eliminate Overdraft Protection Transfer Fees?We understand small mistakes happen, if the negative balance in your checking account is less than $10, the amount advanced will be a maximum of $10 and the Overdraft Protection Transfer Fee will be waived.
- For U.S. Bank Gold Checking account, the Overdraft Protection Transfer Fee is $5.
- For U.S. Bank Gold Platinum Checking accounts, the Overdraft Protection Transfer Fee is waived.
- You can proactively transfer funds into your checking account. We will not charge a Transfer Fee for manual transfers.
What is the benefit of selecting the order of my accounts linked for overdraft protection?
U.S. Bank lets you choose the order of how you use your overdraft protection, allowing you to pull money from a savings account before a line of credit, for example. This helps you save money and gives you added peace of mind when an overdraft occurs and can help you avoid a rejected or declined transaction.
What if I’m not eligible for an overdraft protection line of credit or credit card? If you do not qualify for a line of credit or credit card, we can link your primary U.S. Bank Checking account to a U.S. Bank Savings or Money Market account
1. If your checking account has insufficient funds, money is automatically transferred to your primary checking account from your savings account.
Are there any free services to help protect against overdrafts?
Yes. We also offer
free2 email and text reminders so you’ll always know:
- if your balance is getting low
- when an overdraft advance has occurred
- when a payment is due
- when a deposit or withdrawal is posted
- and much more
Learn more about our free Account Alerts!
How can I avoid overdrafts and returned item fees to my account?
You can help prevent these fees by monitoring your account balance within U.S. Bank Internet Banking and proactively transfer money into your U.S. Bank Checking account. You can also sign up for
free account alerts to help remind you when your balance is low. For additional help, please call Customer Service toll-free at 800-US BANKS (872-2657).
What is an overdraft?
An overdraft occurs when you do not have enough money in your account to cover a transaction and we pay it on your behalf.
What’s the different between Overdraft Protection and Overdraft Coverage?
- Overdraft Protection – When you link your U.S. Bank Checking account to an eligible U.S. Bank account – namely a savings, credit card or line of credit account – funds are automatically transferred from one of these accounts to your checking account, covering transactions exceeding the available amount in your checking account.
For each day an Overdraft Protection transfer occurs, a $10 Overdraft Protection Transfer fee will be charged to the checking account that received the transfer. The fee is $5 for U.S. Bank Gold Checking accounts and $0 (waived) for U.S. Bank Platinum Checking accounts. Our overdraft protection plans offer you extra flexibility if you need to purchase something but have insufficient funds in your checking account.
- Overdraft Coverage – Standard Overdraft Coverage automatically comes with your U.S. Bank Checking account. At our discretion, we will continue to authorize and pay overdrafts for the following transaction types:
checks
automatic bill payments
recurring check card transactions (e.g., setting up your check card to automatically pay a monthly gym membership)
We will not authorize and pay overdrafts for ATM transactions and everyday check card transactions unless you say ‘yes’ to ATM and Check Card Overdraft Coverage. We pay overdrafts at our discretion; we do not guarantee that we will always authorize and pay any type of transaction. If we do not authorize and pay an overdraft, your transaction will be declined or returned. You may be assessed an overdraft fee if we authorize and pay an overdraft item.
1 Please refer to the Consumer Pricing Information brochure for additional information regarding Federal Regulations Governing Savings and Money Market Transaction Limitations.
2 You may be charged access fees by your carrier, dependant upon your personal plan.
