Change overdraft settings | Capital One Help Center (2024)

FAQs

How do I change my overdraft settings on Capital One? ›

We generally do not authorize and pay overdrafts for any transactions. We can cover your overdrafts in two different ways: We have No-Fee Overdraft service that is optional for your account. We also offer Free Savings Transfer overdraft protection that links your checking account to a savings account.

Visit your nearest branch, call 1-800-REGIONS (734-4667), or log in to Online Banking to set up Overdraft Protection.

To do this, just sign in to your Internet Banking or Mobile Banking app and select 'More actions' on the bank account that you have the arranged overdraft set up on. Then select 'Overdrafts' and follow the on-screen instructions to select the new arranged overdraft limit you would like.

Your bank might offer you an overdraft line of credit that you can draw against. Say you have a checking account and the bank grants you a $1,000 overdraft limit. That means you can spend all the money in your account, plus up to $1,000 more before the bank will block any further transactions.

As a Capital One customer, you can choose whether or not to enroll in an overdraft option. If you were enrolled in Next Day Grace, you've been automatically converted to the No-Fee Overdraft option. Eligible customers who aren't currently enrolled can enroll at any time.

You can typically only spend up to your credit limit until you repay some or all of your balance. Spending more than your credit limit could result in penalties. Capital One cardholders are never charged over-the-limit penalties on credit card balances.

Capital One will assess transactions that put balances over the limit and approve or deny them on an individual basis. There is no fixed amount that you can go over your limit and each transaction is approved individually. So, there is no guarantee that you will always be approved to exceed your credit limit.

No, you cannot overdraft your Capital One credit card. Overdrafts do not apply to credit cards. However, you may be able to go over the limit of a Capital One credit card. But it is up to Capital One whether any particular charge that exceeds your credit limit is approved.

Does my Capital One account have overdraft protection? ›

Capital One account holders can opt in for overdraft protection any time and choose their overdraft preference. If customers aren't enrolled, transactions that would result in a negative balance are declined, and no fees are charged.

Their work culminated in January 2022 when Capital One eliminated overdraft fees and non-sufficient funds for customers. “It sounds so simple that you can snap your fingers and we can eliminate overdraft fees,” Adam said.