Overdraft Protection

Unlock overdraft protection up to $200

Overdraft protection covers purchase transactions that exceed your available balance.

Most banks average $34 per overdraft. On average, Green Dot's overdraft fee is half of what other banks charge1. In fact, the majority of Green Dot customers don't pay a fee as they repay overdraft within 24 hours!2.

Only payroll and government direct deposits allow for overdraft eligibility. ATM withdrawals, bill payments made within the app and sending money to others are not covered by overdraft protection. Overdrafts paid at our discretion.

Set up and receive eligible direct deposits, then opt in for overdraft protection, and we’ll automatically provide coverage for purchase transactions based on your deposits. 

 

1. Based on June 2021 assessment of overdraft fees by institution:
https://www.nerdwallet.com/article/banking/overdraft-fees-what-banks-charge

2. Based on Green Dot data as of June 2021.

 

Your coverage is automatically adjusted based on your eligible direct deposits.

 

1
Basic

Receive a single direct deposit of any amount in your account.

$10.00 Coverage

No fee.

2
Premium 100

When you receive at least 2 direct deposits totaling $200+ in a 35 day period.
$100.00 Coverage

$15 fee will apply for each purchase transaction not repaid within 24 hours of authorization of the first transaction that overdraws your account.

3
Premium 200

When you receive at least 2 direct deposits totaling $400+ in a 35 day period.
$200.00 Coverage

$15 fee will apply for each purchase transaction not repaid within 24 hours of authorization of the first transaction that overdraws your account.

  • Each transaction that is greater than $5 and overdraws your account by more than $10, up to a maximum of five overdraft fees per monthly statement period, is eligible for fees.

  • Depending on your overdraft protection coverage, a $15 fee per overdraft may be charged. No overdraft fee will be assessed in connection with any overdraft transaction if your account is returned to a $0 or positive balance within 24 hours of authorization of the first transaction greater than $5 that overdraws your account by more than $10.

    Payment of a transaction that overdrafts your account is solely at our discretion. Account must be in good standing and debit card activated to be eligible. Overdraft fees may not count towards overdraft protection limit and may cause account to be overdrawn by amount greater than overdraft protection limits specified above.

     

  • Yes. There are no fees for overdraft protection with Basic coverage. There are no fees for transactions of $5 or less and no fee for transactions that overdraft your account balance up to $10 with Premium 100 and Premium 200 coverage.

    No overdraft fee will be assessed in connection with any overdraft transaction if your account is returned to a $0 or positive balance within 24 hours of authorization of the first transaction greater than $5 that overdraws your account by more than $10.

    Payment of a transaction that overdrafts your account is solely at our discretion. Account must be in good standing and debit card activated to be eligible. Overdraft fees may not count towards overdraft protection limit and may cause account to be overdrawn by amount greater than overdraft protection limits specified above.

     

  • There are 3 different levels of overdraft protection coverage, based on how much you direct deposit.

    BASIC
    Benefit: You’re covered if you overspend your account balance by $10 without fees
    Eligibility: At least one direct deposit in any amount
    Fees*: $0

    PREMIUM 100
    Benefit: You’re covered if you overspend your account balance by $100
    Eligibility: At least two direct deposits in previous 35 days totaling $200 or more
    Fees*: $15 fee per overdraft may apply if account balance is not brought to at least $0 within 24 hours

    PREMIUM 200
    Benefit: You’re covered if you overspend your account balance by $200
    Eligibility: At least two direct deposits in previous 35 days totaling $400 or more
    Fees*: $15 fee per overdraft may apply if account balance is not brought to at least $0 within 24 hours

    Learn more about overdraft protection

    * Payment of a transaction that overdrafts your account is solely at our discretion. Account must be in good standing and debit card activated to be eligible. Overdraft fees may not count towards overdraft protection limit and may cause account to be overdrawn by amount greater than overdraft protection limits specified above.