Overdraft Management Solutions

Overview

When the unexpected happens, we want to help you be prepared

We have a variety of overdraft management solutions offered at BBVA Compass. Take charge of your accounts with Account Management tools that allow you to set up alerts, monitor accounts via Online and Mobile Banking, and enroll in direct deposit. Even with these tools available, sometimes the unexpected happens. We help you manage those moments and gain peace of mind with our Overdraft Payment and Protection Programs.

Solutions

Account Management Tools

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:

Account Alerts

Set up account alerts and always know what's going on with your accounts. Key alerts to set up for account management include: Account Balance, Account Summary, and Insufficient Funds alerts.
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Online Banking

Our convenient Online Banking tool is yet another way for you to monitor your account activity.

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Mobile Banking

No need to visit a branch or call us. Use your mobile phone to track checking account activity.
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Direct Deposit

Setting up Direct Deposit is a convenient way to ensure your money is automatically deposited into your account on a regular basis.

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Protection Options

Overdraft Payment and Protection Programs

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:

Linked Account Overdraft Sweep Service1

This option links your BBVA Compass savings, money market, or secondary checking account to your primary checking account to cover overdrafts. You will be charged a once-daily Inter-Account Transfer Fee of $12 ($7 in CA) for each day the bank makes one or more transfers.

Overdraft Protection Line of Credit2

With a BBVA Compass Overdraft Protection Line of Credit, you can link an existing checking account to a line of credit to cover overdrafts and help protect against returned checks and unnecessary fees. You will be charged a once-daily Overdraft Protection Fee of $12 ($7 in CA) for each day the bank makes one or more advances from your ODP Line of Credit and may be subject to a 21% APR.

Courtesy Overdraft Option3

Courtesy Overdraft Option is a service designed to allow you to opt-in or opt-out of overdraft protection. If you choose to opt-in for ATM and everyday debit card transactions, transactions made against your account may be authorized, even if your account has non-sufficient funds. This doesn’t mean you will avoid bank fees, but it can save you the hassle of having your debit card declined or check returned to the merchant. If we do cover your overdraft, you will be charged an "NSF Charge – Paid Item" fee of $38 ($32 in CA). Note that the NSF charge - Paid Item fee is not charged on items that cause the available balance on your account to be overdrawn by $1.00 or less.

To help you better understand the overdraft protection options available to you, please, view the Overdraft Payment and Protection Program Comparison Chart.

Opt-In or Opt-Out

Should I opt-in or opt-out of Courtesy Overdraft Option for ATM & everyday debit card transactions?

Whether you opt-in or opt-out of Courtesy Overdraft Option is up to you. Based on your decision, here’s how ATM and everyday debit card transactions would be handled if there are insufficient funds in your account to cover transactions.

If You Opt-Out

If you do not have sufficient funds in your account to make the requested transaction, you will not be able to withdraw funds from BBVA Compass ATMs or ATMs owned and/or serviced by other banks. When using your debit card at point of purchase, if you do not have sufficient funds to complete the transaction, your payment will be declined—and you will either need to use a different form of payment or abandon the purchase.

If You Opt-In

If you do not have sufficient funds in your account to make the requested transaction, BBVA Compass may, at our discretion, authorize your payment and pay your transactions into overdraft. You may still be able to withdrawal funds from ATMs and/or make your payment. If we do pay your overdraft or allow the withdrawal of funds , you will be charged a NSF Charge-Paid Item fee of $38 ($32 in CA). Note that the NSF Charge - Paid Item fee is not charged on items that cause the available balance on your account to be overdrawn by $1.00 or less.

Opt-In/Out of Courtesy Overdraft

FAQs

Frequently asked questions

What are Overdrafts?

An overdraft occurs when you do not have enough money in your account to cover a transaction, but the transaction is paid anyway. If you have an overdraft payment and protection program tied to your checking account, such as a link to savings account or an overdraft protection line of credit, funds from these programs (if sufficient) may be used to cover an overdraft.  Additionally, your overdraft may be covered pursuant to our standard overdraft practices.

What Is Overdraft Protection?

To help you avoid overdrafts, BBVA Compass offers several Overdraft Management Solutions. If your checking account lacks sufficient funds, and you write a check or swipe your debit card, overdraft protection may allow you to make a transaction without having your debit card declined or check returned for non-sufficient funds. This doesn’t mean that you will avoid bank fees, but it could save you the hassle of a declined or returned payment.

What do you mean by "Standard Overdraft Practices"?

When we use the term “Standard Overdraft Practices” we are referring to the default overdraft preferences associated with your checking at the time of account origination, prior to the addition of any other overdraft payment and protection programs.

At checking account origination you are automatically opted-in for the following types of transactions: (i) checks and other transactions made using your checking account number and (ii) automatic bill payments3 – which means that we may, at our discretion, authorize and pay overdrafts on these types of transactions.  At any time after account origination, you may change your opt-in/opt-out preferences for these types of transactions as described below. 

At checking account origination, you are required to either opt-in or opt-out to Courtesy Overdraft Option for the following types of transactions: (i) ATM transactions; and (ii) everyday debit card transactions. We do not authorize and pay overdrafts for these types of transactions unless you opt-in to Courtesy Overdraft Option.  If we do not authorize and pay an overdraft, your transaction will be declined.  Note that you are also able to change your opt-in/opt-out preferences for these type of transactions at any time after account origination.

We may, at our discretion, authorize and pay overdrafts for the following types of transactions: (i) checks and other transactions made using your checking account number and (ii) automatic bill payments.

What fees will I be charged if BBVA Compass pays a transaction into overdraft?

We will charge you an "NSF Charge — Paid Item" fee of $38 ($32 in CA) each time we pay a transaction into overdraft. There is a maximum of six (6) NSF fees that can be charged per calendar day to your consumer account. Note that the NSF Charge – Paid Item fee is not charged on items that cause the available balance on your account to be overdrawn by $1.00 or less.

Also, if your account becomes overdrawn and remains overdrawn by more than $1.00 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 the account remains overdrawn by more than $1.00 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.

Once I make a decision, can I change my opt-in/opt-out choice?

Yes, you may change your choice at any time by phone, through BBVA Compass Online Banking or at a BBVA Compass banking center. It is your choice.

What if I have more than one account?

Your preferences relating to Courtesy Overdraft Option for ATM and everyday debit card transactions are decided and documented on an account by account basis.  Your selection must be made for each checking account  — it is up to you to decide how you wish to have potential overdrafts handled for each account you have.

How does my choice affect my Overdraft Protection Line of Credit that I have with my checking account?

If you should exceed your line of credit limit and you have "opted-in", we may choose to authorize and pay the item. If we do so, you will be charged an overdraft fee (NSF Charge — Paid Item fee of $38 ($32 in CA)) if we pay an item into overdraft for balances overdrawn by more than $1.00, and extended overdraft fees also may apply. If you "opt-out" we will not pay the item into overdraft, and you will not be charged an overdraft fee — however, you will be charged a $38 ($32 in CA) NSF Charge — Returned Item fee if an item is returned, and your debit card transactions may be declined (rather than paid into overdraft).

Is the Courtesy Overdraft Option different from Overdraft Protection Line of Credit or Linked Account Overdraft Sweep Service?

Yes, with the Overdraft Protection Line of Credit2 or Linked Account Overdraft Sweep Service:1

  • You can request that we link your savings account to your checking account or you can apply for a line of credit2 that can be linked to your checking account.
  • Available funds in your linked account(s) will be used to pay any transaction on your checking account and help you avoid overdrafts or returned items.

With the Courtesy Overdraft Option:3

  • It's your choice. You can opt-in and authorize BBVA Compass to pay, at our discretion, ATM or everyday debit card transactions into overdraft.
  • We will charge you an "NSF Charge — Paid Item" fee of $38 ($32 in CA) each time we pay a transaction into overdraft. There is a maximum of six (6) NSF fees (for paid and/or returned items, combined) that may be charged per calendar day. Extended overdraft fees also could apply. Note that the NSF Charge – Paid Item fee is not charged on items that cause the available balance on your account to be overdrawn by $1.00 or less.
  • While Courtesy Overdraft Option and our standard overdraft practices may help you avoid the surprise of declined transactions, we encourage you to consider our other overdraft protection plans, as they may be less expensive alternatives to the fees that apply to Courtesy Overdraft Option and our standard overdraft practices.

Details you need to make a smart decision

1Courtesy Overdraft Option: Your Courtesy Overdraft Option opt-in/out preferences will determine whether or not we will authorize and pay, at our discretion, an ATM or everyday debit card transaction into overdraft. You are automatically opted-in for Checks and Other Transactions, which means we will authorize and pay, at our discretion, these types of transactions into overdraft. Your opt-in/opt-out preferences for all types of transactions can be changed at any time after account opening through BBVA Compass Online Banking, by calling 1-800-Compass or by visiting a branch. Opting-in is NOT a guarantee that your overdrafts will be paid. Payment of an overdraft is made at the discretion of BBVA Compass. The Insufficient Funds (NSF) Charge – Paid Item Fee of $38 ($32 in CA) is not charged on an item that causes the available balance on your account to be overdrawn by $1.00 or less. 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 remains overdrawn by more than $1.00  for ten (10) consecutive calendar days, a $25 Extended Overdraft Service Charge will be assessed. An additional $25 Extended Overdraft Service Charge will be assessed if your account remains overdrawn by more than $1.00  for twenty (20) consecutive calendar days. This charge is in addition to any NSF fees you may incur as a result of items being presented against insufficient available funds. The Extended Overdraft Service Charge does not apply to savings or money market accounts. The total negative balance, including any and all related fees and charges, is due and payable immediately without demand. 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.

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.

3 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 Interest 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.