Chase Bank usually confuse its customers with cryptic transaction notifications which are very hard to understand. One of such cryptic messages that mostly pops out when using the Chase bank is “TOT ODP SWP DR MEMO”.

This message often sometimes appears on bank statements.

This type of cryptic message could send fears down your spine especially when you don’t know the meaning of the message. One could feel that his account has been compromised, but it is far from the message.

It will be worst when your account balance reads $0 despite having some bucks in your account before the message pops up when trying to log into your account.

Each of the words used in this cryptic message has a meaning that we will be unveiling for you in this article.


In finding the meaning of the cryptic message, each of the words needs to be broken down into smaller factions and the meaning could be summed up.

  • TOT ( Temporal Overdraft Transaction)
  • ODP ( Overdraft Protection)
  • SWP ( Moving funds from one account to the other)-Sweep.
  • CR( Money Deposited into your account)
  • MEMO ( Documents listing transactions descriptions)
  • Dr ( Money Leaves Your account) 

This message comes up when Your checking account is overdrawn or when there’s not enough money to cover a payment, purchase or check you write.

This overdraft protection helps you to make a payment or purchase uninterruptedly despite your balance is very low.

However, it comes with a fee called overdraft fee.

How Does Bank/Chase Overdraft Works

The Standard Overdraft Pay covers automatic payments from your checking accounts like recurring phone bills or internet bills.

However, this does not cover every debit transaction such as purchases from stores and gasoline payments. This type of transaction will be declined.

Overdraft Protection comes with fees. It costs $34 insufficient funds fees per transaction with a maximum of 3 fees per business day up $102 )

However, you won’t incur any charge if the transaction is below $5.


If you don’t like the Chase overdraft protection because of the fees or other reasons, there are two possible ways to stop this from happening and avoid the overdraft fees.

You can use in-app features in Chase bank or use a free external app to get money and cover up with little to no charges.

Using Chase In-App Feature.

  • Set up an alert which notifies you of any payments before the payment is done using the Overdraft. With alerts properly set, you can move money from to your account to complete the bill payment if your balance is low. This could help you avoid the overdraft and its fees.
  • Option out from Chase Overdraft protection. When you opt-out, you don’t need to worry about any overdraft again as the service won’t be available for you. You can simply turn this feature off on your Chase account dashboard.

By Using External Apps

However, if your balance is very low and you don’t want to use Chase overdraft protection, you can get a cash advance from cash advance apps to cover up your bills till your paychecks arrive.

Cash advance apps like Dave and MoneyLion can give you some cash advance instantly with little fees to cover up your urgent bills. This way is considered to be more efficient in terms of debt management than using Chase overdraft protection.

Does Overdraft Affect Credit Score

Overdraft does not affect your credit score provided you resolve them within the stipulated period.

Once you pay off the overdraft, your checking account will return to zero which you can continue to use your account.


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