The overdraft fee, left for dead a few years ago, is back on its feet. US banks collected $1.6B in overdraft fees in the third quarter, up 9.4% from the prior quarter, the most in four years, per Reuters calculations confirmed by KBRA. Fee revenue hit an all-time low in the first quarter of 2025 and has climbed since. Economists see the rise as an early sign that households are running short of cash.
JPMorgan Chase and Wells Fargo charged $590M, roughly equal to the rest of the 20 largest banks combined, with JPMorgan up 32% and Wells Fargo up 17% from the first quarter of 2025. Bank of America charges $10 per overdraft, cut from $35 in 2022; Citi eliminated the fee entirely; Wells Fargo lists $35 per eligible paid item.
Two banks dominate overdraft fees
Overdraft and NSF fee revenue, January to June 2026, in millions of dollars
Bar chart. JPMorgan Chase: Fee revenue, $M $562. Wells Fargo: Fee revenue, $M $457. PNC: Fee revenue, $M $144. TD Bank: Fee revenue, $M $132. Bank of America: Fee revenue, $M $113.
Source: The Fintech Index, from FFIEC call report data
JPMorgan Chase led the first half of 2026 with $562M in overdraft and NSF fees, while Wells Fargo took in $457M, and Bank of America $113M.
One mistake can cost $35 at one bank and $10 or nothing at another, so check the app, switch off overdraft coverage, or link a savings account as backup. Wells Fargo's Everyday Checking adds a $15 monthly service fee unless balance or deposit rules are met. If your bank still charges $35, move to one that charges $10 or nothing.
