Bank of America savings accounts do not overdraft by default

Bank of America does not automatically cover overdrafts on savings accounts the way it does on checking accounts. If you try to withdraw more money than you have in savings, the transaction will be declined. Your bank will not pay the difference and charge you an overdraft fee—the withdrawal simply will not go through.

This is different from a checking account, where Bank of America offers overdraft protection as an optional service. With a savings account, you cannot spend money you do not have, and the bank will not lend it to you automatically.

The reason for this difference comes down to how the two accounts are designed. Savings accounts are meant to hold money; checking accounts are meant to move it. Banks treat overdrafts differently based on that purpose.

Key Takeaways

  • Bank of America will decline a savings account withdrawal if you do not have enough funds; the transaction will not process and no overdraft fee will be charged.
  • Overdraft protection on a Bank of America savings account is not available as a standalone service, but you can link your savings to your checking account to cover overdrafts on the checking side.
  • If you link accounts for overdraft protection, the bank will transfer money from savings to checking only when your checking account would otherwise overdraft.
  • Bank of America charges $35 per overdraft on checking accounts, but this fee does not apply to declined savings withdrawals.
  • If you repeatedly overdraft your checking account using savings transfers, the bank may close your account or restrict your access to overdraft protection.

How overdraft protection works when you link accounts

You can link your Bank of America savings account to your checking account to cover overdrafts, but the protection only works one direction: money moves from savings to checking, not the other way around. When you try to make a purchase or withdrawal from checking and do not have enough funds, the bank will automatically transfer money from your linked savings account to cover it.

This transfer happens instantly at the point of sale. You will not see a pending transfer or get a warning—the money moves, the transaction goes through, and you are charged an overdraft fee of $35. The fee applies to the checking account overdraft, not to the savings account itself.

You can set up this link through your Bank of America online account, mobile app, or by calling customer service. The bank calls this service Overdraft Protection, and it is optional. If you do not set it up, overdrafts on checking will simply be declined.

What happens if your savings account balance runs low

If you repeatedly use overdraft protection to transfer money from savings to checking, your savings account balance will eventually drop. Bank of America does not stop you from draining your savings this way—the transfers will continue as long as there is money available to move.

Once your savings account reaches zero, overdraft protection stops working. The next time your checking account would overdraft, the transaction will be declined instead, and you will not be charged an overdraft fee (because the protection did not trigger). However, you will also not be able to complete the purchase or withdrawal.

If you find yourself regularly transferring from savings to cover checking overdrafts, that is a sign the bank may be watching your account. Repeated overdraft activity can lead Bank of America to restrict or remove your overdraft protection, or in some cases close your account.

Overdraft fees and how to avoid them

Bank of America charges $35 per overdraft on checking accounts when overdraft protection transfers money from savings. There is no limit to how many overdraft fees you can be charged in a single day—if you make five transactions that each trigger an overdraft, you will pay $175 in fees.

The bank does offer some relief: if you have a may have access to direct deposit of at least $500 per month, you may be waived one overdraft fee per month. You can also request a one-time courtesy reversal if you have a good account history, though the bank is not required to grant it.

The simplest way to avoid overdraft fees is to turn off overdraft protection entirely. Without it enabled, transactions will simply decline if you do not have funds. You will not complete the purchase, but you will not pay a fee either. You can manage this setting in your online account or by calling the bank.

Alternatives to overdraft protection

If you are worried about overdrafting, you have other options besides linking accounts. You can set up a low balance alert through your Bank of America app or online account. The bank will send you a notification when your checking balance drops below a threshold you choose—usually $100 or $200. This gives you time to transfer money manually before a transaction is declined.

You can also move money from savings to checking yourself whenever you need it. This takes two minutes through the app or online account and gives you full control over when and how much you transfer. You will not pay a fee for the transfer itself, and you will know exactly what your balance is at all times.

Another option is to keep a small buffer in your checking account—$200 or $300—that you do not spend. This acts as a cushion for unexpected charges or timing issues with deposits. It is not overdraft protection, but it serves the same purpose: keeping you from going negative.

What to do if you are charged an overdraft fee

If you are charged an overdraft fee and believe it was a mistake, you can contact Bank of America to request a reversal. Call the number on the back of your card or log into your account to start a chat with customer service. Explain what happened and ask them to remove the fee.

The bank is more likely to reverse the fee if this is your first overdraft in a long time, if you have a good account history, or if the overdraft was caused by a timing issue (for example, a deposit that posted later than expected). If you have multiple overdrafts in a short period, the bank may decline to reverse the fee.

Keep in mind that requesting a reversal does not change your account status or trigger any penalty. The bank will simply review your request and decide whether to remove the fee. You can ask once per overdraft incident.

Frequently Asked Questions

Can I overdraft my Bank of America savings account if I have overdraft protection turned on?

No. Overdraft protection only works on your checking account. It transfers money from savings to checking to cover a checking overdraft. Your savings account itself cannot go negative—if you try to withdraw more than you have, the transaction will be declined.

Will Bank of America charge me a fee if a savings withdrawal is declined?

No. Declined transactions do not result in fees. The bank only charges the $35 overdraft fee when overdraft protection actually transfers money from savings to checking. A simple decline costs nothing.

What if I set up overdraft protection and then close my savings account?

Overdraft protection will stop working immediately. Any future overdrafts on your checking account will be declined instead of covered. You should set up an alternative (like a low balance alert or a buffer in checking) before you close the savings account.

Can I overdraft my savings account to pay a bill or make a transfer?

No. Bank of America will not allow you to send money you do not have from a savings account, even if you have overdraft protection set up. Overdraft protection only applies to checking accounts. If you need to move money from savings to pay a bill, you must have enough in savings to cover it.

How many times can Bank of America charge me overdraft fees in one day?

There is no daily limit. If you make multiple transactions that each trigger overdraft protection, you will be charged $35 for each one. Some banks cap overdraft fees at two or three per day, but Bank of America does not have a published daily limit.