Bank of America Core Checking does not include overdraft protection by default

Bank of America Core Checking comes with no overdraft coverage built in. If you try to spend more than your balance, the transaction will be declined at the point of sale or ATM. You will not be charged an overdraft fee because the bank simply will not let the transaction go through.

This is different from Bank of America's other checking accounts, which do offer overdraft protection as an optional feature. Core Checking is designed as a basic account with minimal fees and no overdraft risk — which also means no overdraft fees, but also no safety net if you miscalculate your balance.

If you need overdraft protection, you would need to switch to a different Bank of America checking product or add a linked savings account to cover shortfalls.

Key Takeaways

  • Core Checking transactions are declined if you do not have enough balance; the bank does not allow overdrafts.
  • Bank of America's Advantage and Premium checking accounts do offer overdraft protection, but Core Checking does not.
  • You can link a savings account to Core Checking to cover declined transactions, though this requires setting it up in advance.
  • Switching to a different checking account type is the only way to get overdraft coverage on a Bank of America account.

How overdraft protection works on other Bank of America accounts

Bank of America's Advantage Checking and Premium Checking accounts include overdraft protection as a standard feature. This means if you spend more than your balance, the bank covers the shortfall and charges you an overdraft fee — typically $35 per occurrence on Bank of America accounts, though the exact amount can vary.

With overdraft protection enabled, a transaction that would normally be declined instead goes through, and you owe the bank the difference plus the fee. You then have time to deposit money to cover the overdraft. This is useful if you want a safety net, but it costs money every time you use it.

Core Checking intentionally does not include this feature. It is positioned as a no-frills account for people who want to avoid overdraft fees altogether by having transactions simply decline instead.

Linking a savings account to cover shortfalls

One way to add a safety net to Core Checking without switching accounts is to link a Bank of America savings account. If a transaction would be declined due to insufficient funds, the bank can transfer money from the linked savings account to cover it.

This transfer is not automatic by default — you have to set it up through your online banking or by calling Bank of America at 1-800-432-1000. Once enabled, the linked account acts as a backup. There is typically no fee for this transfer, though you should confirm the current policy with the bank since policies can change.

The catch is that you need to have money in the savings account for this to work. If both accounts are empty, the transaction will still be declined. Also, if you do not have a Bank of America savings account, you would need to open one first.

What happens when a Core Checking transaction is declined

When you attempt a purchase and your Core Checking balance is too low, the transaction fails at the point of sale, ATM, or online. The merchant or ATM will tell you the card was declined, and the money will not leave your account.

You will not be charged a fee for the declined transaction. There is no overdraft fee, no insufficient funds fee, or any other penalty. The bank simply stops the transaction from going through.

The downside is that you may face consequences from the merchant — for example, a restaurant might ask you to provide a different payment method, or an online purchase might not complete. You will need to either use a different payment method or come back when you have funds available.

Switching to a checking account with overdraft protection

If you want overdraft protection on a Bank of America account, you can convert Core Checking to Advantage Checking or Premium Checking. Both of these accounts include overdraft protection and allow transactions to go through even if your balance is insufficient.

Advantage Checking has a monthly maintenance fee (currently $12, though this may vary by region), which is waived if you maintain a minimum balance or set up direct deposit. Premium Checking has a higher monthly fee and is designed for customers with larger balances or more complex banking needs.

You can make this change by visiting a Bank of America branch, calling 1-800-432-1000, or logging into your online banking. The bank will close your Core Checking account and open the new account type. Your account number and routing number will change, so you will need to update any automatic payments or direct deposits.

Overdraft fees and how to avoid them

If you do switch to an account with overdraft protection, each overdraft transaction triggers a fee. Bank of America typically charges $35 per overdraft, though the fee structure can vary based on your account type and region. Some accounts may have a limit on how many overdraft fees you can be charged in a single day.

To avoid overdraft fees, monitor your balance regularly before making large purchases. Set up balance alerts through your online banking so you get notified when your balance drops below a certain amount. Many people set an alert at $100 or $200 to give themselves a buffer.

You can also use your bank's mobile app to check your balance in real time before swiping your card. If you know you are close to zero, use a different payment method or wait until you have deposited more money.

Frequently Asked Questions

Can I overdraft my Core Checking account if I link a savings account?

No. Even with a linked savings account, Core Checking itself does not allow overdrafts. The linked account is a backup that can transfer money to cover a transaction, but if both accounts are empty, the transaction will be declined. You are not charged an overdraft fee because the overdraft never happens.

What is the difference between Core Checking and Advantage Checking?

Core Checking has no monthly fee and no overdraft protection — transactions are declined if you lack funds. Advantage Checking has a monthly maintenance fee (waived under certain conditions) and includes overdraft protection, meaning transactions can go through even if your balance is insufficient, but you will be charged an overdraft fee.

If I switch from Core Checking to Advantage Checking, do I keep the same account number?

No. Switching account types closes your old account and opens a new one, which means a new account number and routing number. You will need to update any automatic bill payments, direct deposits, or other recurring transactions that use your old account details.

Can I get an overdraft fee refunded if I did not know about the charge?

Bank of America may refund one or two overdraft fees if you contact them and explain the situation, especially if you have been a customer for a long time. Call 1-800-432-1000 and ask to speak with someone about a fee reversal. There is no may provide, but it is worth asking.

Does Bank of America charge a fee to link a savings account to my checking account?

No. Linking accounts and setting up transfers between them is free. There is also typically no fee for the transfer itself when it happens to cover a shortfall, though you should confirm this with the bank since policies can change.