Anonymous asked in Business & FinancePersonal Finance · 6 years ago

How much can you overdraft with Chase Debit Overdraft services? My account is a positive balance. I want to over draft by $400.?

2 Answers

  • S
    Lv 7
    6 years ago
    Favorite Answer

    With Chase Debit Card coverage, Chase will charge an Insufficient Funds Fee of $34 each time they have to pay an overdraft created by a transaction. There is no mention of a maximum overdraft amount. Once an overdraft has occurred, the customer is obligated to bring the account to a positive balance promptly. Leave the account overdrawn for five consecutive business days, and Chase will charge an additional $15, an Extended Overdraft Fee. Chase also can decide to not pay the overdraft if the checking account is considered not in good standing, does not reflect regular deposits, or shows a history of excessive overdrafts. Read the details listed at the bottom of the page on this link.

    With the Chase bank, if a customer is enrolled in Overdraft Protection, the bank will automatically transfer available funds from the individual's Chase savings or, if selected at enrollment, from the Chase credit card account to their Chase checking account. The transfer amounts are in $50 increments to cover both the processed transactions and the applied Overdraft Protection Transfer Fee, $10, charged for each day Chase makes a transfer.

    So if your Chase savings account has $400 to $450 available (remember the Overdraft Protection Transfer Fee), Chase will transfer that amount to cover the checking account transaction which overdraws the account.

  • 6 years ago

    I doubt they'll let you overdraft 400 bucks. Maybe $50 if you have overdraft protection. Do you have the overdraft set up on your Chase account??

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