How To Get Overdraft Fees Refunded

Quick answer: Employed American adults who are financially stretched can often get one overdraft fee refunded per year as a courtesy waiver. Call your bank within 24 to 48 hours of the fee posting, ask politely and reference your account history. Most major banks approve one refund every 12 months if your account is in good standing.

An overdraft fee refund is a credit your bank issues to return a fee you were charged for spending more than your available balance. You can request one by calling customer service, explaining what happened and asking for a one-time courtesy waiver.

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Key Takeaways

• How to get overdraft fees refunded usually starts with a phone call: Most major banks approve a one-time courtesy waiver every 12 months if your account is in good standing.

• Act fast: Call your bank within 24 to 48 hours of the fee posting, stay polite and reference your account history.

• Overdraft fees are costly but shrinking: The average fee is about $35, and many banks have capped or eliminated them in recent years, per the CFPB.

• Grace periods can prevent the fee entirely: Several banks waive the charge if you bring your balance positive by a next-business-day deadline.

• Some banks charge little or nothing: Bank of America charges $10, while Citi charges no overdraft fee at all.

• Prevention beats refunds: Overdraft protection, low-balance alerts and a prepaid card can stop the fee before it happens.

Summary generated by AI, verified by MoneyLion editors

How Much Are Overdraft Fees?

Overdraft fees typically run about $35 per transaction, according to the Consumer Financial Protection Bureau (CFPB) — though the exact amount varies by bank, and some charge less or nothing at all. Reporting banks collected roughly $5.8 billion in overdraft and non-sufficient funds fees in 2023, per the CFPB, down more than 50% from pre-pandemic levels as more banks capped or eliminated the charges.

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 Ask Your Bank for an Overdraft Fee Refund

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:

Step 1: Check your account and confirm the exact fee amount, the date it posted and what triggered it.

Step 2: Call your bank's customer service line within 24 to 48 hours of the fee posting to your account.

Step 3: Stay calm and polite when you explain what happened. Ask the representative to waive the fee as a one-time courtesy.

Step 4: Share any context that supports your case, like a long history of on-time payments, a recent deposit delay or a first-time mistake.

Step 5: If the first representative says no, ask to speak with a supervisor or try the next business day again.

Step 6: Once the refund is approved, confirm the credit date and check your account within three to five business days to make sure the money is back.

How Major Banks Handle Overdraft Fee Refunds

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:

Fees and policies last reviewed July 2026.

How To Avoid Overdraft Fees

Getting an overdraft fee refund is a relief, 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 do 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 Funds Quickly After an Overdraft Occurs

If you do overdraw, act fast — transfer money to your account as soon as possible. The sooner you bring your balance to positive, the more likely your bank is to waive 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.

Overdraft Fee Refund FAQs

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. Some banks offer grace periods through which you can avoid overdraft fees if you deposit within a short period of time from when you overdrafted your account.

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 — averaging about $35 — for spending more than your available balance.

• Courtesy waiver: A one-time refund a bank issues as a goodwill gesture, often once per 12 months.

• Grace period: A window to bring your balance positive by a set deadline to avoid the fee.

• Overdraft protection: A service linking your checking account to savings or credit to cover shortfalls automatically.

• Non-sufficient funds (NSF) fee: A charge when a transaction is declined for lack of funds.

• Account in good standing: An account without excessive overdrafts or negative history, which improves refund odds.

• Low-balance alert: A text or email notification when your balance drops below a set level.

• Opting out of overdraft coverage: Choosing to have transactions declined instead of covered for a fee.

Sources

• CFPB: Overdraft fees 

• FDIC: Deposit Insurance and bank data 

• CFPB: What is overdraft protection? 

Summary generated by AI, verified by MoneyLion editors

Melanie Grafil, CFHC™, contributed to editing this article.

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