How To Get Overdraft Fees Refunded

You can get an overdraft fee refunded if you call your bank to request it — banks will often offer an overdraft fee waiver at least once as a courtesy.

Key Takeaways

• Yes, you can often get an overdraft fee refunded — a quick phone call to customer service, politely explaining your situation and requesting a "one-time courtesy" waiver, is usually all it takes, especially if it's your first offense.

• Overdraft fees at major banks typically run around $35 per transaction, with most banks capping charges at three or four per day. Those costs add up fast if your balance stays negative.

• Depositing funds the same day you overdraft shows your bank you're acting in good faith and can may be necessary, depending on the bank, to get a a fee refund.

• If the overdraft wasn't your fault — for example, a duplicate merchant charge pushed your balance negative — dispute it with both the merchant and your bank and provide support, such as receipts or screenshots of your transaction.

• To prevent future overdraft fees, set up low-balance alerts in your banking app, link a savings account for overdraft protection or opt out of overdraft coverage so your card is declined instead of charged a fee.

Summary generated by AI, verified by MoneyLion editors

How Much Are Overdraft Fees?

Overdraft fees average around $35 per overdraft charge at major banks. It may not sound like a lot, but if you’re only overdrawn by a couple of dollars, that fee stings. These charges can add up quickly if you make multiple transactions while your balance is still negative.

Here are the overdraft fees for a few major banks as of May 2026:

• Wells Fargo: $35 per overdraft occurrence, up to three daily overdraft fees.

• Bank of America: $35 per overdraft, but only if the overdrawn amount exceeds $1.

• Chase Bank: $34 per overdraft, limited to three daily fees.

Getting a refund on these fees can make a big difference, especially if it wasn't your fault or it's your first time overdrafting. Plus, getting those fees back means you can put that money to much better use—like building your emergency fund or treating yourself to a guilt-free coffee.

How to Get an Overdraft Fee Refunded

Sometimes all it takes is a simple phone call to get an overdraft fee refunded. It’s not always guaranteed, but it’s worth asking—especially if it’s your first offense. Here are some actionable steps to take to increase your chances:

• Make a quick phone call: Call your bank's customer service line and politely explain your situation. Mention if this is your first time overdrafting and request a “one-time courtesy” refund. Most banks understand mistakes happen and will accommodate at least once.

• Bring your account balance back to positive: Depositing money on the same day the overdraft occurs can work in your favor. It shows the bank you’re acting responsibly, and they may be more inclined to refund you.

• Get overdraft fees back when it's not your fault: If the overdraft happened due to an error by a merchant, dispute it immediately with both the merchant and the bank. For example, if a duplicate charge put you in the red, many banks are willing to reverse the overdraft fee once it’s confirmed as a mistake.

• Transfer funds from another account: Some banks allow you a grace period to transfer money to cover an overdraft and avoid the fee. This window could be a day or two, but it’s a useful way to prevent fees if you quickly catch the overdraft.

Different banks have different policies regarding overdraft fees and whether or not they'll refund them. Here's a quick look at what you can expect from some popular banks:

How To Avoid Overdraft Fees

Getting an overdraft fee refund is great, but avoiding the fees entirely is even better. This saves you the stress and hassle of contacting your bank and keeps your hard-earned cash where it belongs.

Once you do have that overdraft fee waiver locked in, here's what to to make sure it doesn't happen again.

Access Free Overdraft Protection

Many banks offer overdraft protection, which can help you avoid hefty fees by linking your checking account to another account, such as savings or a credit card. Funds are transferred automatically when your checking balance runs low, covering the difference and avoiding the overdraft fee. 

Check Your Account Balance Regularly

If you’re unsure of your balance, making a purchase that puts you in the red is easy. Set a regular time each day or week to check your balance. This is especially helpful if automatic scheduled payments could drain your account unexpectedly.

Set up Alerts for Low Balances

Most banks allow you to set up low-balance alerts via text or email. This feature will notify you when your balance drops below a certain level, allowing you to add more funds and avoid an overdraft.

Deposit or Transfer Money Quickly After an Overdraft Occurs

If you do overdraw, act fast — transfer funds as soon as possible. The quicker you bring your balance to positive, the more likely your bank will consider waiving the overdraft fee if you request it.

Use a Prepaid Card

Using a prepaid card means you can only spend what's been loaded onto the card. No risk of overdraft here—once your funds run out, your spending stops. This is a perfect strategy if you want a foolproof way to avoid overdraft fees.

Handle Overdraft Fees Like a Pro

Overdraft fees can feel like a frustrating penalty for a small mistake, but you may be able to get those charges reversed with the right approach. Remember, sometimes all it takes is a quick phone call or disputing any errors that weren’t your fault. Knowing your bank’s policies, taking proactive steps to avoid overdrafts, and staying vigilant with your finances will help you keep more of your money where it belongs.

FAQ

Can you get overdraft fees waived?

Potentially, many banks will waive overdraft fees as a one-time courtesy if you ask politely and it's your first or infrequent offense.

How many times will a bank refund an overdraft fee?

Banks will often refund an overdraft fee at least once per year. If you're a longtime customer, though, and in good standing with the bank, you might be allowed more if you ask.

Can banks charge overdraft fees on pending transactions?

Yes, banks can apply overdraft fees on pending transactions if the balance is insufficient by the time the transaction is finalized.

How do I convince my bank to refund overdraft fees?

Call customer service, explain your situation, and request a “one-time courtesy” refund. Having a positive account history can increase your chances.

Can my bank keep charging me overdraft fees?

Yes, banks can charge multiple overdraft fees daily if several transactions overdraw your account. Check your bank’s policy to understand the limits.

Can I ask my bank to stop overdraft fees?

Yes, you can opt out of overdraft coverage, though this means your transactions will be declined and you could get hit with a fee for the return.

Key Terms

• Overdraft fee: A charge your bank applies when it approves a transaction — such as a debit card purchase, check or automatic payment — that exceeds your available checking account balance.

• Overdraft protection: A bank-offered service that links your checking account to a savings account or line of credit to automatically transfer funds and cover a shortfall before an overdraft fee is charged.

• NSF fee: A non-sufficient funds fee charged when your bank declines a transaction because your balance is too low — similar in cost to an overdraft fee, but charged even though the payment doesn't go through.

• One-time courtesy waiver: A goodwill refund on an overdraft fee that many banks offer customers with a clean account history who request it — most commonly available once per year.

• Overdraft coverage: A bank's discretionary practice of approving transactions that exceed your available balance and charging you a fee per occurrence. Customers can typically opt out to have those transactions declined instead.

• Grace period: A period of time — typically one business day — during which you can deposit or transfer funds to bring your account back to a positive balance and potentially avoid an overdraft fee.

• ChexSystems: A consumer reporting agency that tracks your banking history, including overdrafts and account closures. Banks check it when you apply to open a new account. It's separate from your credit report and doesn't affect your credit score.

• Prepaid card: A payment card loaded with a fixed amount of money. You can only spend what's on it, so there's no risk of overdrafting.

Sources:

• CFPB: Bank Accounts and Services

• FDIC: Consumer Resource Center

• Wells Fargo: Fees Questions

• Chase: Overdraft Services

Summary generated by AI, verified by MoneyLion editors