Banking and Finance

3 Ways to Get Your Chase Overdraft Fees Waived

July 27, 2021

How much is the overdraft fee at Chase? A whopping $34. That means that if you don’t have overdraft protection, you’ll get charged $34 for an insufficient funds fee for withdrawing more money than you actually have in your account.

Listen, sometimes it happens. But, with all of the common monthly banking fees people pay for, it’s best to learn how to avoid losing even more money on overdraft fees. Lucky for you, it’s pretty easy to waive your Chase overdraft fees or ask for a refund. Here’s how.

How much is Chase Overdraft Fee?

Bank Overdraft Fee | Cheese Debit Card

Usually, when you use your Chase debit card, you’re not charged to use it because it’s withdrawing funds you actually have in your checking account. It’s the digital way of paying with cash, and because the bank knows you have those funds, they don’t charge you (unless it’s an international transaction).

But, when you don’t have sufficient funds in your account and try to purchase something, banks like Chase have to charge you an overdraft fee. Why? The fee is used to cover the cash they had to basically front you because there wasn’t enough in your account to make the transaction.

What are the Chase Overdraft Fees and Policies?

Standard Chase Overdraft Fee: $34. Under Chase’s standard overdraft practices, Chase will charge you a $34 insufficient funds fee per item if it pays for you unless your Chase account balance is overdrawn by $5 or less at the end of the business day, or for items that are $5 or less. 

Chase Overdraft Fee Daily Maximum/Limit: $102. The daily maximum of Chase Insufficient Funds Fees charged is $102, as for three items per day.

What is Overdraft Protection?

Now, depending on the bank you bank with or even the checking account you have, you might be eligible for overdraft protection. As the name suggests, it’s a feature that allows you to ensure that if you try to complete a transaction and don’t have sufficient funds, you won’t be charged any overdraft fee.

Does Chase Offer Overdraft Protection Services?

Yes! If, for example, you don’t have enough money in your checking account for the purchase but you have enough in savings, they’ll transfer the exact amount you need to your checking account.

This requires you to have both a checking and a savings account with Chase, and it requires that you have enough money in your savings account to cover the cost of the transaction.

What are the fees associated with Chase overdraft protection? There is a $5 Chase fee that applies for each withdrawal or transfer out of the Chase savings account over six per monthly statement period. Still, that’s way cheaper than the $34 Chase overdraft fee.

What to Do if You’re Charged and Overdraft Fee at Chase

So, if you’ve been charged a Chase overdraft fee, what do you do? Can you have the Chase overdraft fee waived? First thing’s first, don’t panic. We suggest contacting the bank first to ask if they will remove it. Most of the time, if you don’t have many overdrafts on your account, they’ll give you a free pass the first time.

The Chase bank customer service phone number is +1 (800) 935-9935.

Nervous about asking Chasing for an overdraft fee waiver? Here are some tips about how to make the phone call:

  • Have your account details on hand and access to your personal information.
  • Be prepared to plead your case with accurate information; explain why you didn’t have enough funds in your account and be sure to tell them that you’ve since deposited money into the account.
  • Be polite but be firm.
  • Tell them how long you’ve been a customer and that you’d really enjoy staying with Chase Bank, but that you’re not sure about the price of the overdraft fees.

It’s important to note that Chase doesn’t charge an overdraft fee if your account balance at the end of the business day is overdrawn by $5 or less, or for items that are $5 or less. So, if that’s the case, definitely call to let them know that you want them to waive the Chase overdraft fee.

How to Waive Chase Overdraft Fees

If that call didn’t work, write to the bank manager.

Call the Chase manager at this number: 1-800-242-7338

Email the Chase customer service:  Sign in to Chase OnlineSM and use the Secure Message Center

Mail a letter to the Chase CEO:

Jamie Dimon

270 Park Avenue

New York, NY 10017-2070


Other ways to avoid the Chase overdraft fee include:

  • Signing up for Chase Overdraft Protection. As long as you have both a savings and a checking account, you’ll be able to sign up. This will prevent you from having to pay the $34 fee in the future.
  • Activating notifications. Chase offers a notification service that you can enable that will allow you to receive an SMS or email when your Chase bank account balance goes below a certain level. This is helpful in letting you know where you’re at so you know how much you can and cannot spend.

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