An overdraft occurs when you do not have enough money in your account to cover a transaction,1 but the transaction is paid anyway.2 Overdraft fees may be imposed for any transaction creating an overdraft (such as a check, debit card charge, preauthorized electronic fund transfer, or ATM withdrawal). Learn more about our Overdraft Payment and Protection Programs.
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. Please see terms & conditions for each service for complete details.
The chart below summarizes the overdraft payment and protection programs that BBVA Compass offers to help you manage your account and avoid overdrafts. BBVA Compass also provides many tools, including telephone banking, online banking, mobile banking and account alerts, to help you manage your account. We encourage you to access your Available Balance information using one of these recommended tools before initiating a withdrawal which could result in a possible overdraft.
|Courtesy Overdraft Option||Overdraft Protection Line of Credit||Linked Account Overdraft Sweep Service|
This option allows you to "opt-in," which means you want us to authorize and pay ATM and everyday debit card transactions into overdraft. Opting in does not guarantee your overdrafts will be paid.1
The Courtesy Overdraft Option is available only for certain consumer checking accounts.
By default, we apply the Courtesy Overdraft Option to checks, preauthorized transactions and other checking account transactions but you may opt out for these transactions after your account is opened.2
This option is an unsecured revolving line of credit (subject to credit approval), which links to an existing checking account to cover overdrafts.4 This option is only available in AL, AZ, CA, CO, FL, NM and TX.
The Overdraft Protection Line of Credit is a credit product subject to fees, interest charges, and approval, including credit approval
This option links another account (e.g., savings or money market) to your checking account to cover any overdraft.
|Features & Benefits||
Funds automatically transfer from a secondary account to primary account (up to the available balance in your secondary account) to cover an overdraft.5
|Fees Associated with
Overdraft Payment and
|You will be charged a NSF Charge – Paid Item fee of $38 ($32 in CA) for each item that is paid into overdraft, up to a maximum of six (6) NSF fees (for paid and/or returned items, combined) per day on consumer accounts. This fee is not charged on items that cause 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. Maintaining a negative account balance could incur additional Extended Overdraft Service Charges of $25.3||
Maximum of one Inter-Account Transfer Fee of $12 ($7 in CA) per day in which there is a transfer. The Inter-Account Transfer Fee will be charged to your primary account.
|How to Sign Up||
Decision whether to opt-in for ATM and everyday debit card transactions is made at account opening and we will only apply the Courtesy Overdraft Option to ATM and everyday debit card transactions if you ask us.
You may change your opt-in or opt-out preference:
Apply for an Overdraft Protection Line of Credit:
Link your existing savings account to your checking account:
|Annual Percentage Rate (APR)||21%|
|Grace Period for Repayment of Credit Line Balance||There is no grace period in which to repay the balance of your Credit Line before finance charges will be imposed. You will be charged interest from the transaction date.|
|Method of Compounding Credit Line Balance||Daily balance method, including current transactions.|
|Minimum Finance Charge||None|
|Overdraft Protection Fee||$12 ($7 in CA) per day will be charged to your Checking Account for each day in which an advance is made from your Credit Line. Overdraft Protection Fee will be waived for Military Lending Act-covered borrowers.|
|Late Payment Fee||
|Overdraft Protection Limit||Determined upon approval & acceptance.|
1 Your choice to opt-in/out of the Courtesy Overdraft Option and our standard overdraft practices will determine whether or not we will authorize and pay, at our discretion, a transaction into overdraft. The 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. 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 Charge – Returned Item fee of $38 ($32 in CA) may apply even if the bank chooses not to pay a transaction into overdraft.
2 Courtesy Overdraft Option for Checks: We may, in our discretion, authorize and pay overdrafts for checks, preauthorized transactions and other checking account transactions. If you do not want BBVA Compass to authorize and pay overdrafts arising from checks and other transactions made using your checking account number and from automatic bill payments, please call 1-800-COMPASS or visit BBVA Compass Online Banking. When these items are declined or returned due to insufficient available funds in your account, we will charge you an "NSF Charge – Returned Item" fee of $38 ($32 in CA) each time we return an item for insufficient funds.
3 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 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 your 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.
4 Overdraft Protection Line of Credit accounts are subject to approval, including credit approval. Fees and interest charges apply. The amount of overdraft protection coverage provided under an ODP Line of Credit is determined by your credit limit, which is subject to review and approval. 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 checking accounts are eligible. See your local branch for details.
5 Even if enough funds are in the secondary account to cover an overdraft, the bank may not 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.
6Effective 6/28/18, if the minimum payment due is more than $10, and if the bank has not received the minimum payment due, in full, within three (3) calendar days following the payment due date, a late payment fee will be charged in the amount of $10 or 5% of the minimum payment due, whichever is greater, not to exceed $27.