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An overdraft occurs when you don't have enough money in your account to cover a transaction, but the transaction is paid anyway.1 Overdraft fees may be imposed for any type of transaction that causes an overdraft2 — whether it's a check, debit card transaction, preauthorized electronic fund transfer, or ATM withdrawal.
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 and embarrassment of a declined or returned payment.
Protecting yourself against overdraft is easy with the variety of overdraft management solutions offered by 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.
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:
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. Learn More
No need to visit a branch or call us. Use your mobile phone to track checking account activity. Learn More
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:
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.
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.
Our Courtesy Overdraft Option is a service designed to allow you to make transactions against your account, even with non-sufficient funds. This doesn’t mean you will avoid bank fees, but it can save you the embarrassment and 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).
To help you better understand the overdraft protection options available to you, please view the Overdraft Payment and Protection Program Comparison Chart.
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 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 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).
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 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.
4 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.