Yes, Bank of America charges overdraft fees on most accounts

Bank of America charges $35 per overdraft transaction on standard checking accounts when you spend more than your available balance. This fee applies each time a transaction posts that overdraws your account, so a single day can result in multiple $35 charges if several transactions clear.

The fee structure depends on which type of account you hold. Bank of America's basic checking account (called "Advantage Banking") carries the $35 overdraft fee. Some premium accounts, like the Preferred Rewards tier, may have different terms. The bank also offers an overdraft protection service that can prevent fees by linking your checking account to a savings account or credit line, though that service has its own mechanics and costs.

Bank of America does not charge overdraft fees on debit card transactions that would overdraw your account — those are simply declined at the point of sale. The fees apply only to checks, ACH transfers, and other transactions that post after the fact.

Key Takeaways

  • Bank of America charges $35 for each transaction that overdraws your checking account, with no daily limit on how many fees can post in one day.
  • Debit card purchases are declined rather than charged a fee if they would overdraw your account, so overdraft fees typically come from checks and automatic payments.
  • Overdraft protection, which links your checking account to savings or a credit line, can prevent fees but may charge interest or transfer fees depending on the service you choose.
  • Bank of America does not refund overdraft fees automatically, but you can contact your branch or call customer service to request a one-time courtesy reversal if the fee is recent.

When Bank of America charges the fee

The overdraft fee posts when a transaction clears your account and brings your balance below zero. This is different from a declined transaction — the bank allows the transaction to go through, then charges you for doing so. The timing matters because your available balance and your actual balance are not always the same thing.

If you have $500 in your account and write a check for $600, the check may not clear for several days. During that time, your available balance shows $500 (what you can safely spend), but your actual balance is still $500. When the check clears, your balance drops to -$100, and the $35 fee posts immediately. If another transaction clears the same day, you get another $35 fee.

Automatic payments and ACH transfers (like bill payments or transfers to another bank) are the most common source of overdraft fees because they post without warning. A check you write gives you time to realize the problem, but an automatic payment can overdraw your account while you are not watching.

How overdraft protection works as an alternative

Bank of America offers overdraft protection, which prevents overdraft fees by automatically transferring money from another account when your checking account would go negative. You link your checking account to a savings account, money market account, or Bank of America credit line. When a transaction would overdraw checking, the bank pulls money from the linked account instead.

If you link a savings account, the transfer is free, but you lose the interest that money would have earned in savings. If you link a credit line, the transfer is also free, but you are borrowing at credit card interest rates — typically 18% to 24% depending on your creditworthiness. Either way, you avoid the $35 overdraft fee.

Overdraft protection does not prevent you from overspending; it just moves the problem to another account. If you repeatedly overdraw and transfer from savings, you will eventually empty that account. If you borrow from a credit line, you will owe interest on the borrowed amount.

What happens if you cannot pay the overdraft

If your account stays negative and you do not deposit money to cover it, Bank of America will eventually close the account and report it to ChexSystems, a banking history database that other banks use to decide whether to open accounts for you. This can make it harder to open a new checking account elsewhere for several years.

The bank may also send your account to a collection agency if the negative balance is large enough. You would then owe not just the overdraft fee but also collection costs and potentially interest, depending on your state's laws.

If you have overdrafted and cannot immediately deposit funds, contact your branch or call customer service. Explain the situation and ask whether they can reverse the fee as a courtesy. Bank of America does not have a formal policy on this, but many branches will reverse one or two recent fees if you have been a customer in good standing.

How to prevent overdrafts at Bank of America

The simplest method is to keep a buffer in your checking account — money you do not spend, so that small mistakes do not overdraw you. Many people keep $100 to $300 as a cushion. This costs you nothing and requires no setup.

You can also set up low-balance alerts through Bank of America's mobile app or online banking. Go to your account settings and choose an alert threshold — for example, alert you when your balance drops below $200. The alerts come as text or email and give you time to deposit money before a transaction clears.

If you have a savings account at Bank of America, linking it for overdraft protection is free and takes a few minutes through online banking. Go to your checking account settings, find the overdraft protection option, and select your savings account as the backup. From then on, overdrafts will transfer from savings instead of triggering a fee.

Turning off overdraft protection entirely is also an option. Without it, debit card transactions will be declined, and checks may bounce. This prevents fees but can be embarrassing or inconvenient. You can change this setting anytime through your account preferences.

Overdraft fees compared to other banks

Bank of America's $35 overdraft fee is standard across most large banks. Wells Fargo, Chase, and Citibank all charge $35 per overdraft transaction. Some regional banks and credit unions charge $25 to $30, and a few online banks charge nothing at all.

The real difference between banks is not the fee amount but the policies around how many fees can post in one day and whether the bank reorders transactions to maximize fees. Bank of America does not reorder transactions, which means fees are charged in the order transactions actually clear, not in a way designed to trigger more fees.

If overdraft fees are a recurring problem for you, switching to a bank with no overdraft fees or a lower fee structure may be worth the effort. Online banks like Ally, Charles Schwab, and Chime do not charge overdraft fees at all, though they may have other trade-offs like fewer branch locations or different interest rates on savings.

Requesting a fee reversal

Bank of America does not automatically refund overdraft fees, but you can request a reversal if the fee is recent — typically within 30 to 60 days. Call your local branch or visit in person and explain the situation. If you have been a customer for a while and do not have a history of overdrafts, many branches will reverse one or two fees as a courtesy.

Be specific about why the overdraft happened. "I did not realize a check had cleared" or "An automatic payment posted earlier than expected" is more likely to get a reversal than "I just want the fee back." The bank is more willing to help if the overdraft seems like a one-time mistake rather than a pattern.

If you call customer service instead of visiting a branch, ask to speak with a supervisor or manager. The first representative may say they cannot reverse the fee, but a supervisor often has more discretion. Be polite and reasonable — rudeness makes reversals less likely.

Frequently Asked Questions

Can I get a refund if I overdraft multiple times in one day?

Each transaction that overdraws your account triggers a separate $35 fee, with no daily limit. If five transactions clear on the same day and your account is negative, you could be charged $175 in fees. You can request a reversal of some or all of these fees by contacting your branch, but the bank is not required to grant it.

Does Bank of America charge a fee if I go negative but deposit money the next day?

Yes. The fee posts as soon as the overdraft transaction clears, regardless of whether you deposit money later. Depositing money stops future overdraft fees but does not erase fees that have already posted. You would need to request a reversal to have the fee removed.

What is the difference between overdraft fees and NSF fees?

Bank of America uses the term "overdraft fee" for transactions that post and overdraw your account. An NSF (non-sufficient funds) fee is charged when a check or transaction is declined because there is not enough money. Bank of America does not charge NSF fees on most accounts — they simply decline the transaction.

Will overdraft protection hurt my credit score?

Transferring money through overdraft protection does not hurt your credit score because it is not a loan or credit inquiry. If you link a credit line for overdraft protection and use it, that borrowed amount will show on your credit report and may lower your score slightly, but the transfer itself is not reported.

Can I opt out of overdraft protection entirely?

Yes. You can disable overdraft protection through your account settings in online banking or by calling customer service. Once disabled, debit card transactions will be declined if they would overdraw your account, and checks may bounce. You can re-enable it anytime.