The document establishes Chase Debit Card Coverage as an optional service requiring affirmative opt-in, under which Chase may authorize overdrafts on everyday debit card transactions at its discretion and charge a $34 overdraft fee per transaction. The default is opt-out, meaning everyday debit card transactions are declined rather than paid into overdraft unless the account holder affirmatively selects YES.
This analysis describes what Chase's agreement states, permits, or reserves. It does not constitute a legal determination about enforceability. Regulatory applicability and practical outcomes may vary by jurisdiction, enforcement context, and individual circumstances. Read our methodology
This provision implements the Regulation E affirmative opt-in requirement for overdraft fees on everyday debit card transactions. The default opt-out position means that without affirmative election, everyday debit card transactions that would overdraw the account will be declined rather than paid, and no overdraft fee will be charged for those transactions.
Under this clause, everyday debit card transactions will be declined by default when insufficient funds are present unless the account holder affirmatively opts in to Chase Debit Card Coverage. If opted in, Chase may authorize the transaction at its discretion and charge a $34 overdraft fee per transaction. The selection can be changed at any time through chase.com, Chase Mobile, by phone at 1-800-935-9935, or at a branch.
Cross-platform context
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Compare across platforms →"Allows you to choose how we treat your EVERYDAY DEBIT CARD transactions. If you don't have Overdraft Protection, or you don't have enough funds in your linked Overdraft Protection backup account, and: You select YES, we may authorize overdrafts at our discretion and you understand you will be charged an Overdraft Fee per transaction if Chase pays your overdraft. You select NO, the transaction will be declined and you will NOT be charged a fee.Excerpt from Chase's Fee Schedule
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This provision implements the Regulation E affirmative opt-in requirement for overdraft fees on everyday debit card transactions. The default opt-out position means that without affirmative election, everyday debit card transactions that would overdraw the account will be declined rather than paid, and no overdraft fee will be charged for those transactions.
Under this clause, everyday debit card transactions will be declined by default when insufficient funds are present unless the account holder affirmatively opts in to Chase Debit Card Coverage. If opted in, Chase may authorize the transaction at its discretion and charge a $34 overdraft fee per transaction. The selection can be changed at any time through chase.com, Chase Mobile, …
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