ByHow to Fight US Bank Overdraft Fees With DoNotPay
In 2019, banks in the US received $11 billion in overdraft fees imposed on their customers' checking accounts. You can avoid paying these exploitative, hidden fees by appealing your . With a proper explanation and understanding of your rights, you might compel your bank to have these fees waived, including a PayPal transfer to bank fee.
The only problem is that it's not practical going to all your bankers, trying to get your bank fees waived. It wastes time and money. DoNotPay is here to offer you an online-focused tool that advocates on your behalf for you to retain your money in your checking account. You can complete your appeal in four simple steps and wait for your refund with DoNotPay.
What Is a Bank Overdraft Fee?
An overdraft fee is a charge that banks levy on their customers for spending more money than they have in their bank accounts–usually checking accounts. When you want to transact but don't have enough money in your account, you borrow money from the bank, a fee known as an overdraft. The US Bank is one such bank that .
Besides the interest rates, you'll also be charged simply for spending beyond your account balance. There are other avoidable bank fees that customers pay. They include:
- ACH transfer fee – An ACH fee is a charge banks levy on their customers to process credit card and debit card transactions.
- ATM fee – A fee that financial institutions charge their customers for using their ATM services.
US Bank Charge Overdraft Fee Explained
Among all bank fees, the weekend overdraft charge is perhaps the heftiest. So, why does a bank like US Bank charge $25 for a $2 overdraft? The explanation is simple: US Bank technically gives you a loan when transacting with insufficient funds. The overdraft is the loan processing fee.
The following are common fees that US Bank charges:
| US Bank Fees | Amount |
| Overdraft | $36 for each item of $5.01 and above |
| Overdraft Protection Transfer Fee | $12.50 for a $50 transaction or more |
| ATM Fees | $0 for US ATMs; $2.50 for non-US ATMs |
| Returned Item Fee | $19 for each check or money from account with insufficient cash |
| Monthly Maintenance Fee | $6.96 |
| Minimum Opening Deposit | $25 |
| Debit Card Cash Advance | $2 |
| Stop Payment Fee | $35 bi-annually |
| Paper Statements with Check Return | $6 per statement cycle |
| Paper Statements with Check Images | $2 per statement cycle |
Will US Bank Refund Overdraft Fees?
Typically, banks are often lenient with their customers and allow them to make mistakes. If it's your first time taking an overdraft, simply contact US Bank at (800) 872-2657, and they might waive the overdraft fee.
If you're not new to overdrafts, you can still make your case to the bank and negotiate with customer care for a waiver.
How to Get Refunds on US Bank Overdraft Fees by Yourself
You'll be hard-pressed to find a bank without overdraft charges. Many offer an initial overdraft fee grace period, and afterward, they levy the fee. But you can opt for a DIY approach to appeal the fees and keep the money in your account.
- Summarize the charges – Tally all the bank fees you've been charged based on the transaction information on your bank statement. You'll need the summary when negotiating with the bank's customer-care agent.
- Ready a script – Prepare a polite script identifying all the types of bank charges and that you're a loyal customer who's requesting a waiver.
- Contact the bank – Depending on your bank, you may appeal an overdraft fee by sending a direct message. Some banks like US Bank accept refund requests via phone, saving time.
- Persist on your refund request – Once you've received a response from the bank, focus on your refund request. Your bank doesn't want to lose a loyal customer like you. Besides, they spend a lot more when acquiring customers than they do handing out refunds. The chances are high the fees will be waived.
Get Your US Bank Overdraft Fee Refunded Easily With DoNotPay
As you might have noted, a DIY approach to appealing bank fees is involving and time-wasting. Unfortunately, the process is the same, whether you want to request refunds for Bank of America ATM fees or Citizens Bank overdraft fees.
You need not undergo the stress when you can leverage DoNotPay, and get the help you need to overturn your bank fees. DoNotPay is easy, fast, and guarantees success with every petition. The advantage is that you can use DoNotPay to appeal those fees for multiple financial institutions.
How to Get US Bank Overdraft Fees Refunded With DoNotPay
If you want to get eliminated, but don't know where to start, DoNotPay has you covered in 4 easy steps:
- Open the DoNotPay Fight Bank Fees product.
- Enter the name of your bank.
- Verify the last 4 digits of your bank account.
- Choose which fees you want to waive, including overdraft, ATM, and transaction fees.
That's all on your part. Our job is to reach out to the bank and appeal the fees on your behalf. We'll advocate for you; you'll receive a response from the back soon after to address your query.
How Else Can DoNotPay Help You?
DoNotPay can help you get bank fees waived for many different banks across the nation, including:
Check out DoNotPay today to find out many ways to save time and money.