Sometimes it happens that we have no available balance in our account but we have to draw money by using ATM. This time just a few banks have brought this facility to their clients. So to avail of this facility, you have to know the banks that let you overdraft at ATM. No doubt this facility of banks becomes very helpful and useful to persons who need an immediate overdraft. There are a variety of overdraft ways, charges, limits, times, and other terms & conditions from bank to bank. I am going to know you about a few banks with the best overdraft facility and conditions.
What is Overdraft Protection?
Overdraft Protection is a bank service that helps clients to complete transactions though there is an insufficient balance in the account. The bank will cover the shortage amount of transactions. Without overdraft protection, for insufficient balance transactions will remain unpaid. This may fall into great trouble and can be expensive. Overdraft protection is mostly used for checking accounts. It can be applied to saving accounts too. For opt-in overdraft protection, banks may allow you immediate overdraft at ATM and make payments.
How Does Overdraft Protection Work?
For overdraft protection services, usually banks link a saving account, line of credit, and credit card to cover the shortfalls. When a client makes an overdraft the bank covers the short amount by transferring money from a credit card or a linked account. Banks may apply an overdraft fee or transfer fee for this service. The overdraft fee and transfer fee vary from bank to bank. By setting up an alert, linking accounts, and using ‘low cash mode’ overdraft fees can be avoided. Overdraft fees also can be waived by contacting banks if clients do it mistakenly.
What Banks Let You Overdraft at ATM?
Here is a complete list of banks that let you overdraft at ATM and necessary information are described below.
1. PNC Bank
PNC is an age-old and reputed bank in the USA. They operate 2631 Branches and about 18000 ATMs in 27 states. They are serving their clients with a wide range of financial products and facilities. Overdraft facility is one of them. Overdraft limit is set based on account balance, account history, usage, linking an eligible checking account, etc. Clients can overdraft through ATM transactions, debit card transactions, checks, and automated bill payments. The overdraft limit is a matter of the bank’s discretion. The overdraft fee is $36 per transaction and the overdraft limit is 4 transactions per day.
2. Wells Fargo Bank
Wells Fargo Bank is one of the biggest and most valuable banks in the USA. They have about 8050 branches and 13000 ATMs. Besides banking, Wells Fargo has several businesses. Wells Fargo Bank also serves the facility of overdraft to their clients. Wells Fargo bank provides clients with an overdraft facility in check, ATM withdrawal, debit card transactions, and electronic transactions. The withdrawal amount and authorization are a matter of the bank’s discretion. They charge a $35 overdraft fee per transaction and a maximum of 3 times a day.
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3. Bank of America (BOA)
Bank of America (BOA) is a multinational investment bank. They are serving about 46 million clients with 4600 branches and 15900 ATMs. They have spread their banking service all over the states of the USA. Among the other financial products and facilities overdraft is one of them. The bank allows overdraft through checks, scheduled payments, and ATM withdrawals. The overdraft limit of this bank is $1500 per day. You can draw cash through ATM. The bank will charge a $35 overdraft fee per transaction. The maximum overdraft charge is applicable for 4 times and the total overdraft fee is $140 per day.
4. TD Bank
TD Bank is also an age-old bank in the USA. They have about 1220 branches and 700 ATMs across the country. TD bank allows ACH payments, recurring debit transactions, checks, and ATM transactions (by opt-in TD debit card advance and saving overdraft protection linking accounts). They charge $35 per overdraft and a maximum of 3 fees per day per account. They do not claim any overdraft fee for withdrawal of available balance exceed by $50 or less.
5. Capital One
Capital One is a reputed bank holding company in the USA. It is one of the largest credit card issuers also. The bank is operating about 755 Branches and 2000 ATMs. The account holders of Capital one can also avail of their overdraft facility in shortage of money. Capital One will let you overdraft $1000 a day. An overdraft can occur on Check payments, electronic payments, recurring debit card payments, and ATM transactions.
By using Capital One, MoneyPass, and Allpoint ATMs client has not to pay any overdraft fees. If you opted in for overdraft coverage then there will not be any time limit for an overdraft in a day. The overdraft fee is variable based on the age of the account, account type, and account history. Bank expects that you will deposit money to cover up overdraft rapidly. Failing on deposit of overdraft money bank can close your account.
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6. Key Bank
Key Bank is the 24th largest bank in the USA. They are operating their banking activities through 1197 branches and 1572 ATMs throughout the 39 states. Clients can avail of overdraft on check payments, recurring payments, electronic transfers, ATM transactions, and debit card transactions at the bank’s discretion. For overdraft at an ATM clients have to opt-in for bank authorization and the amount will be determined by the bank. The overdraft fee per transaction is $33. Overdraft charge will be applied max 5 times a day and 20 times in a month. In September 2022 Key Bank is going to launch its updated overdraft terms. You can go through that.
7. Fifth Third Bank
Fifth Third Bank is one of the largest consumer banks in the USA. The bank has about 1136 Branches and 2469 ATMs in several states. Fifth Third Bank allows overdraft on checks, ACH, Bill Payment, ATM transactions, and debit card purchases. Fifth Third Banks has no specific amount of overdraft limit. It depends on the account’s activity, transaction amounts, account history, etc. The bank can deny overdraft requests at an ATM at their discretion. The overdraft fee per transaction is $37 and a maximum of 3 times a day. The maximum overdraft fee will be $111 in a day.
8. Regions Bank
Regions Bank is a reputed and large bank in the USA founded in 1971. It has about 1454 banking offices and 1952 ATMs. To avail overdraft facility clients have to be enrolled in its overdraft protection program. To enroll they will link your saving account, credit card, or line of credit to your checking account. Then the bank will provide an overdraft facility for ATM overdraft, bill payments, and debit card purchases. The overdraft fee of this bank is $36 per transaction. They will charge max 5 times in a day for a total of $180.
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9. Huntington Bank
Huntington Bank is the 26th largest bank in the USA. It has about 1050 Branches in several states. Most branches of this bank are in Ohio. Huntington Bank gives opportunities for an overdraft on checks, automated bill payment, ATM transactions, and debit card transactions. The amount of overdraft is a matter of the bank’s discretion. It depends on account history, account transactions, and account activity. By opt-in settings and authorization of the bank, a client can overdraw at an ATM. The overdraft fee of this bank is $36 per transaction and they charge a maximum of 4 times a day. They also charge if clients delay repaying the overdraft money. They close clients’ account if he/she fails to repay the money within 60 days.
10. Chime
Chime is one kind of financial technology company. Though it is not a bank it provides its client’s overdraft facility. Its banking services are provided by Bancorp Bank or Stride Bank N.A. Using the SpotMe service of Chime clients have to buy a debit card that will allow overdraft with no overdraft fee. The overdraft limit is $20 to $200. Clients only once can overdraft using SpotMe. After the next deposit clients will be eligible again for overdraft. After Overdraft in the next deposit, they will apply it to the negative balance. Eligibility and limit of overdraft will be determined by account activity, direct deposit frequency, deposit amount, and history.
Final Word
There are much more banks that let you overdraft at ATM. But most banks expect clients to opt in for overdraft protection and repay overdraft amounts promptly. Commonly most banks keep the right of discretion about the authorization of overdrafts at ATMs. In this situation, you have to opt-in or contact with relevant bank for your immediate overdraft at ATM. The overdraft amount may be determined by the bank based on your account activity, account history, and account transactions. The overdraft fee also varies from bank to bank.
Frequently Asked Question
Several banks offer overdrafts at atm. Any bank holder like you can use these banks to withdraw money when you have an insufficient amount. I have listed some of the best banks above. However, check also these banks out and say bank let me go overdrawn. SunTrust Bank, Bank of Huntington, Fifth Third Bank, Discover, Citizen’s Bank, PNC Bank, TD Bank, U.S. Bank, Wells Fargo, etc.
Overdraft is possible when a bank offers an overdraft facility. You should keep good relationships with banks that give you overdrafts. If you meet a certain condition, you will definitely get overdraft cash at ATM. For an opt-in debit card at ATM overdraft, you can make withdrawals even if you have an insufficient balance.
If you need an Overdraft in your Wells Fargo account at ATM. Make sure you take the maximum limit which is $300. No clarification on the minimum overdraft amount.
Bank of America gives you the opportunity to Overdraft $1500 per day. It is possible when you have checks, schedule payments, or ATM withdrawal access.
Short on Funds? Looking for Fast cash? PNC is a great option for the overdraft at ATMs. No clarification of minimum and maximum ATM withdrawals from the PNC end. That means it depends on accounts.
US Banks also have no exact information about minimum and maximum atm withdrawals. It depends on a bank account, credit score, account history, etc.
