Typically, this occurs with checks and Automated Clearing House (ACH) transactions, but Chase uses this term interchangeably with overdraft to mean using more money than you have in your account. In an NSF, the bank declines the transaction and charges you an NSF fee.
In an overdraft, the bank covers the amount to enable the transaction to go through, and then charges you an overdraft fee.Overdraft and NSF fees represent different banking scenarios that both result from your attempt to complete a transaction without enough money in your account. For customers who don’t have overdraft protection, the financial institution may charge a non-sufficient funds (NSF) fee instead.Ĭhase uses these terms interchangeably, but not all banks do. Instead of declining the transaction, the bank will cover the amount for you. What happens if you don’t pay an overdrawn account?Īn overdraft fee occurs when you don’t have enough money in your bank account to pay for the entire transaction.
#Chase dispute charge greater than 6 months ago how to#
Overdraft fees can feel like a double whammy: You find out you don’t have enough money in your account and you also have to pay an extra charge.
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