Appeal Your US Bank Overdraft Fees In 3 Steps
US Bank, arguably one of the largest banks in America, offers a vast array of financial-related services to its customers, including trusts and estates administration, wealth planning, wealth management banking, and other specialty services. As we speak, US Bank stands shoulder to shoulder with JPMorgan Chase & CO in terms of asset value—something that other banks only dream of.
Here are some stats that put the sheer scope of US Bank into perspective:
- US Bank boasts over 2,000 branches in 26 states.
- It currently ranks No.113 on the Fortune 500.
- The bank generates around $23 billion in annual revenue.
While these stats are certainly jaw-dropping, there's a more commonly known fact about US Bank an average American will tell you right off the bat—their overdraft fees are among the priciest in the banking realm. Between debit card coverage and standard overdraft coverage, US bank overdraft fees have a reputation of causing headaches to customers who incur them.
On a more positive note, there's a wide range of ways to appeal and waiver your US Bank overdraft fees and prevent them from making a big monthly dent in your finances. Even better, these ways won't require much on your end, making them a superb opportunity to save some of your hard-earned money.
US Bank Overdraft Fees Explained
It's a scenario we can all relate with: A slight budget miscalculation or oversight results in an unexpected shortage of funds. What follows next is some sort of mini-chaos, and understandably so.
In the midst of this dilemma, you may find yourself inadvertently requesting your bank to allow you to pay for bills or any other expenses, despite your account balance screaming some big zeros. If your bank gives you the green light to go ahead with the transaction, it'll eventually charge you a small fee for "bailing you out" in your time of need. This is where overdraft fees come into play.
US Bank overdraft fees are no different. Upon receiving an overdraft request, the bank will carefully review your account status and decide whether or not to process the overdraft. If successful, you'll be charged $36 for each overdraft item the bank pays or returns on your behalf. However, US Bank only charges that fee when the overdraft item they pay or return on your behalf is $5.00 or more.
With that said, US Bank limits the number of charges to a daily maximum of 4 overdraft paid or overdraft returned fees per day. That simply means the utmost amount of overdraft fees you can incur per day is $144. Let's face it, though — for the average American who's still reeling from the pangs of the devastating COVID-19 pandemic, that's too much money to let go in a span of 24 hours.
Here's a comparison of what some banks charge when you overdraft your account:
|Bank of America||$35|
How to Fight US Bank Overdraft Fees
There are two ways to go if you're not happy with your US Bank overdraft fees:
- Try to negotiate with the bank.
- Say that you'll switch banks.
Both options require some level of preparedness and research, so don't contact US Bank unless you are armed with the right information. It's essential to understand what you stand to lose if things don't go according to plan. Nothing is worse than being beaten in your own game.
Have You Considered Negotiating Your Overdraft Fees?
When you chose US Bank as your preferred banking institution, chances are you were too busy to check if their overdraft fees were within your range. Perhaps you may have spotted $36 somewhere on the bank's website, but you never really took time to go through the entire post word for word. Now that your current financial situation has forced you to take out one overdraft item after another, it's slowly dawning on you that the overdraft fees you stand to pay are astronomical at best. Don't fret, though. There's a way out of this mess, and you deserve to know it.
The secret that US Bank doesn't want you to know is this—it's much cheaper for them to retain an existing customer (that is, you) than to find a new one. This is why they're so adamant about keeping you on board, come what may. You have the upper hand here, so follow these steps and start negotiating for a complete waiver of your overdraft fees:
- Call US Bank via their customer service line at 800-USBANKS (872-2657).
- Get straight to the point—request them to waiver your overdraft fees (but don't stop there).
- Give a few reasons as to why you took out the overdraft in the first place.
- Say how soon you plan on getting your account positive again.
- Even more importantly, point out your history as a faithful, long-standing customer (this is your best leverage, so use it to the fullest).
- If that doesn't seem to work out, remind them about their competitors' overdraft fees (which, incidentally, happen to be much lower than what you typically incur with US Bank).
All the while, stay polite and keep your voice low. Taking out your anger on the person receiving the call will only get your request denied. If the customer service rep isn't offering much in the way of help, ask to speak to the supervisor. More often than not, the bank supervisor will be considerate enough to waive your overdraft fees—as long as it's not a normal occurrence. We all make mistakes, after all.
The Last Resort—Say that you'll switch banks.
In case negotiations hit a snag, consider bluffing. Say that you plan on switching to a different bank once your US Bank overdraft fees are paid up. This is the last position US Bank wants their customers to be, so they'll likely waive your fees in the hope that there won't be a repeat of the same.
Don't make empty threats though. Be prepared to switch to a different banking provider if your request is not honored. Bluffing the pro bluffers is never a good idea, so resort to this only if you mean it.
DoNotPay Lends a Hand With Appealing Your US Bank Overdraft Fees
Think of DoNotPay as a robot lawyer that offers assistance with a variety of bureaucratic tasks including help with appealing US Bank overdraft fees. Putting you and your hard-earned money first is our top priority, and we won't rest until we get you the respite you're looking for.
First things first, you have to sign up for DoNotPay in your web browser. Once that's done, follow these simple steps to get your fees waived once and for all:
- Search "appeal fees" on DoNotPay, choose the Fight and Waive Fees product, and select the type of fee you want to appeal.
- Select the merchant you want to appeal fees for and enter the details of your transaction, including an associated account if you have one.
- Submit your case! DoNotPay will generate the best argument for your case and make sure your fee waiver request gets sent to the merchant for processing.
That's it. Now you can sit back, relax, and wait for the outcome of your waiver request, which we are pretty sure will be positive.
What Else Can Our Robot Lawyer Do For You?
Besides helping you get a handle on your US Bank overdraft fees, DoNotPay can also streamline other facets of your life. Are your eBay fees making you lose sleep at night, or perhaps you have some Robinhood fees that you want to be sorted quickly and with zero fuss? We can help with those and much more—all you have to do is ask.
Many people give up on what they truly deserve because of the red tape. DoNotPay assists with the bureaucracy so that you can focus on more important things. Contact DoNotPay if you need us to:
- Help you fight Coinbase fees
- Assist you with discovering and applying for scholarships
- Appeal PayPal Seller fees
- Create passport photos on your behalf
- Free you from costly Shopify fees
- Appeal Chase checking account fees
- Get a waiver on your Spirit Airlines baggage fees
- Get compensation for delayed or canceled flights
- Assist with American Airlines baggage fees
- Request a total waiver of your Etsy fees
- Dispute parking tickets
- Avoid HOA fees
Want to see if we actually walk the talk? Sign up for DoNotPay today to get started!