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We've all done it: didn't pay close enough attention and accidentally overdrew our checking account. The good news is now there are many ways to easily manage your account, and financial tools designed to protect you in the event of an overdraft.
An overdraft occurs when you don't have enough money in your account to cover a transaction, but the transaction is paid anyway.1 You can be charged overdraft fees for any type of transaction that causes an overdraft2 — whether it's a check, debit card charge, preauthorized electronic fund transfer, or ATM withdrawal.
The best way to avoid overdrafts is to always know how much money is in your account. At BBVA Compass, we want to provide you with easy-to-use tools to give you access to your Available Balance information anytime, anywhere. Below are some of these account management tools:
From paying bills to transferring money, you can do what you want, when you want. Learn More
Do the banking you want, when you want. Learn More
Set up account alerts and always know what's going on with you accounts. Learn More
And remember, knowing your Available Balance is only one of the ways to effectively manage your account. Managing your cash flow is also important. By setting up Direct Deposit, you can have access to your money more quickly. It's fast, safe and convenient.Learn More About These Tools & Our Posting Process > Learn More About These Tools & Our Posting Process (CA Residents) >
Even with the many tools available to help you manage your account, sometimes the unexpected happens. At BBVA Compass, we help you manage those moments and gain peace of mind with our Overdraft Payment and Protection Programs:
To help you better understand the overdraft protection options available to you, please view the Overdraft Payment and Protection Program Comparison Chart. Learn More >
1 Courtesy Overdraft Option: Your opt-in/opt-out preferences for our standard overdraft practices will determine whether Courtesy Overdraft Option will apply to a transaction and will determine whether or not we will authorize and pay, at our discretion, a transaction into overdraft. Should you overdraw your account, you will be charged an "NSF Charge – Paid Item" fee of $38 ($32 in CA). Courtesy Overdraft Option and our standard overdraft practices are NOT a guarantee that your overdrafts will be paid. BBVA Compass is not obligated to pay any item presented for payment if your account does not contain sufficient available funds, and we reserve the right not to pay. For certain transactions, an NSF – Returned Item fee of $38 ($32 in CA) may apply even if the bank chooses not to pay a transaction into overdraft. If your account becomes overdrawn and continues with a negative balance for ten (10) consecutive calendar days, an Extended Overdraft Service Charge of $25 will be charged. An additional $25 Extended Overdraft Service Charge will be charged if your account remains negative for twenty (20) consecutive calendar days. The Extended Overdraft Service Charge does not apply to savings or money market accounts. This charge is in addition to any NSF fees you may incur as a result of items being presented against insufficient funds.
2 Note that transactions may not be processed in the order that they occur. The order in which transactions occur, and the order in which they are received and processed by BBVA Compass, can affect the total amount of overdraft fees charged. Payment of overdrafts under any program is made at the discretion of BBVA Compass after review of the transaction, including account status and circumstances. The total of the negative balance, including any and all fees and charges (e.g., non-sufficient funds/overdraft fees), is due and payable immediately, without demand. If your account becomes overdrawn and continues with a negative balance for ten (10) consecutive calendar days, an Extended Overdraft Service Charge of $25 will be charged. An additional $25 Extended Overdraft Service Charge will be charged if your account remains negative for twenty (20) consecutive calendar days. The Extended Overdraft Service Charge does not apply to savings or money market accounts. This charge is in addition to any NSF fees you may incur as a result of items being presented against insufficient funds.
3 Overdraft Protection Line of Credit: Overdraft Protection Line of Credit accounts are subject to approval, including credit approval. APR for Overdraft Protection Line of Credit: 21%. An Overdraft Protection Fee of $12 ($7 in CA) per day will be charged to your checking account for each day in which an advance is made from your ODP Line of Credit to cover an overdraft (maximum one Overdraft Protection Fee per day, regardless of the number of overdraft transactions in a given day). Having an Overdraft Protection Line of Credit does not guarantee you against paying NSF fees; the amount of credit available on your ODP Line of Credit may not be sufficient to cover all transactions. Not all deposit accounts are eligible.
4 Linked Account Overdraft Sweep Service: While there is no service charge for the Linked Account Overdraft Sweep Service, for each day on which a transfer is made from your savings account to cover an overdraft in your linked checking account, an Inter-Account Transfer Fee of $12.00 ($7.00 in CA) will be charged to your linked checking account. However, if your savings account is linked to a BBVA Compass ClearChoice Premium Checking account, you will not be assessed the Inter-Account Transfer Fee. Having Linked Account Overdraft Sweep Service does not guarantee you against paying NSF fees; the amount of funds in your savings account may not be sufficient to cover all transactions. Even if enough funds are in the secondary account to cover an overdraft, the bank is not obligated to transfer funds if: (a) the secondary account is dormant, inactive, or frozen; or (b) the transfer exceeds or would exceed any limitation on the number of transactions that are permitted for the secondary account. Withdrawal transactions from savings and money market accounts are governed by federal law and, if transaction limitations are exceeded, the account could be reclassified as non-interest bearing. Federal law limits transfers to another deposit account with BBVA Compass or to a third party by means of a preauthorized agreement, telephonic request, check, debit card, draft or similar order (including Online Banking transfers and sweep transfers from this account) to a total of six (6) per month. There is no limit on the number of withdrawals from savings or money market accounts when made in person at a BBVA Compass banking office or at an automated teller machine. Withdrawal transactions subject to Excess Transaction Fees.