Cash withdrawals from an ATM are not eligible for overdraft protection. If you participate in overdraft protection, Chase will process all debit card transactions, bill payments and checks (up to the bank’s discretionary limits). There is no fee to enroll in this program. With most types of Chase checking accounts, you’ll be invited to enroll in Chase’s overdraft protection program, which will link your checking and savings accounts at the bank. MEMO = description of the transaction (though not a very helpful one!) Why is Chase making these overdraft transactions? ![]() SWP = Sweep (the bank moving money from one account to another)ĭR = Debit (money moved out of your account)ĬR = Credit (money moved into your account) There is a lot to unpack with these transactions, and Chase could certainly do a much better job of explaining what’s going on with *your* money. You’ll see a corresponding overdraft transfer on your checking account labeled TOT ODP SWP CR MEMO. TOT ODP SWP DR MEMO means that money has been automatically transferred out of your Chase savings account to a linked checking account to temporarily cover a pending overdraft transaction. What does TOT ODP SWP DR MEMO mean? Chase has been confusing customers with cryptic transactions for quite a few years. Let’s explain what’s going on, what you can do to fix it, and some tools you can use to avoid this (costly) situation in the future. The small piece of good news is that you aren’t the victim of a scam or fraud no one has hacked your account and stolen your money. ![]() ![]() Worse, your account shows a balance of $0 or a negative number! First, there’s a mysterious charge labeled “TOT ODP SWP DR MEMO”. You’ve logged into your Chase bank account and are alarmed to see a few things. We may earn a referral fee when you sign up for or purchase products mentioned in this article. Editor’s Note: Overdraft Apps provides detailed product reviews and recommendations based upon extensive research and our own hands-on testing.
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