New overdraft coverage and deposit requirement
Frequently asked questions

With No-Fee Overdraft coverage, we won’t charge any overdraft fees if we approve a check payment, an electronic payment (like Bill Pay) or a recurring debit card payment (like subscriptions) that you can’t cover. You also have the option to have us consider covering ATM withdrawals and one-time debit card purchases (if you haven’t already, you can update this preference in your account settings). If we don’t approve a transaction, it won’t be paid—but we won’t charge you a fee.

If we allow an overdraft, we won’t charge you a fee—but you’ll need to pay the money back. If your balance remains negative, we may not approve additional transactions that overdraw your account, and your account may be closed. This may also impact your ability to open accounts at Capital One or other financial institutions.

This is a courtesy service that is only intended for occasional overdrafts, so we can’t guarantee that we’ll cover all transactions that will take your balance negative.

In April 2022, a deposit requirement will go into effect. The requirement is to deposit at least $250 into your checking account in 2 out of the 3 previous calendar months. In order for us to consider approving transactions that would overdraw your account beginning in April, you’ll need to have met this requirement in 2 out of the 3 prior months.

For instance, if you deposit $250 in February and in March, then we’ll consider approving transactions that would overdraw your account in April. But if you only deposit $100 in February and in March, then we won’t be able to approve overdrafts in April because you didn’t meet the deposit requirement.

Transfers from another Capital One account don’t count toward meeting the deposit requirement, but many other types of transactions do. These include direct deposit paychecks, cash and check deposits, and third-party payments from online payment platforms like Zelle®.

We aren’t offering a fee-based option, but you can change your overdraft coverage at any time by updating your current overdraft settings. Just follow these 3 simple steps:

1. Sign in to your account.
2. Click Account Services & Settings.
3. Select Overdraft Settings and review your coverage options. If you’d like to opt out of No-Fee Overdraft, Auto Decline and Free Savings Transfer are both available options.

Follow the steps below to learn more:

1. Sign in to your checking account.
2. Click View Account.
3. On the top left of the screen, click View Details.
4. Scroll down and select View Current Terms and Conditions.
5. On the top left of the disclosures, select Overdraft Services—you’ll find more info there.