You scan your bank account statement and you come across a line you don't recognize.
It reads with just a bunch of letters, making it difficult to pinpoint exactly where this load is coming from. As a line item it is indicated TOT ODP / SWP CR MEMO. What does this really mean and what should you do about it?

The TOT ODP / SWP CR MEMO is the abbreviation of your bank informing you that your account has been placed in overdraft protection. This means that they have withdrawn money from your savings account to help cover the cost of exceeding your bank account balance.


We've all seen it before: an unexpected expense left you short at the end of the month. You were threatened with a high overdraft and you probably missed it very little. An overdraft occurs when money is withdrawn over and above what is in the checking account. In this situation, the account is said to be "filled". If there is a prior agreement with the account operator for an overdraft and the withdrawal amount is within the allowed limit of the account overdraft, interest is usually charged at the fixed rate. If the negative balance exceeds agreed terms, additional fees may be charged and higher interest rates may apply.

Overdraft protection

Overdraft protection is a credit service offered by banking institutions mainly in the United States. The debit or salutation program protection program pays the items presented in the customer's account when there are insufficient funds to cover the withdrawal amount. Debit protection can include ATM withdrawals, debit card purchases, electronic transfers, and checks. For unauthorized items such as checks or withdrawals from ACH, overdraft protection allows those items to be paid, rather than returned unpaid or rejected. However, ATM withdrawals and purchases made with a debit or checking card are considered pre-authorized and must be paid by the bank upon presentation, even if doing so results in an overdraft.

TOT ODP/SWP CR MEMO: What Does It Really Mean?

In many cases, your deficit will be deducted from another account. This often means that the money you owe is being transferred from a savings account to your checking account. However, you need to have enough money in your savings account to cover the burden.

This makes the transfer of the overdraft protection a little cheaper. If your savings account does not have enough funds to cover the cost of your purchase, you will be charged the full overdraft insurance fee.


Some banks have a limit on the number of ODP transfers you can make per month. For example, Chase only allows you to do this six times in a given month. If you exceed this amount, you will be asked to switch to another checking account.

To keep things simple, you need to pay close attention to the amount of money in your bank account at all times. When you know you're running out of cash, you can sign up for cash advances on popular apps like MoneyLion or Brigit.

Can you get rid of the fee?

For those who have already discovered their bank account, you may be wondering if there is any way to get rid of the TOT ODP / SWP CR MEMO line. The good news is that this allows you to have a bit of flexibility if it's your first time.

Contact your bank's customer service for help. Explain what happened and why your account balance was exceeded.

If you haven't had any of these charges on your account in the past year, they can be flexible with you and reverse the charges. It all depends on your individual bank's policies and how lenient they are with these fees.

Sometimes customer service will refuse to refund you the fee. In this case, all you have to do is accept the overdraft on your account and face the consequences. It is a good incentive to pay more attention to your bank account balance before purchasing.

What to do about overdraft protection fees

TOT ODP / SWP CR MEMO looks like a bunch of random letters at first. It can be difficult to pinpoint why you're paying, but it's actually for overdraft protection. If you are faced with bank overdraft transfer fees, it is a good idea to check with your bank. This will help you see what you can do to reverse these stresses.


What does TOT ODP mean on my monthly bank statement?

Odp stands for Overdraft Protection Transfer. This fee on your monthly statement probably means that you have withdrawn too much from your account and will have to pay the additional fees.

What if I get in overdraw too often?

A bank account with a negative balance will not remain active for long. If you have withdrawn too much multiple times, the bank will automatically close your account.

Can I go to jail for overdrawing my bank account?

Bank account overdraft is not a crime. Hundreds of clients usually do it every day. However, it is necessary to pay the overdraft loan fee and now repeatedly withdraw the excess money.

What if I overdraft and never pay the fee?

If you are unable to pay the overdraft fee on your account, the bank will close your account and inform Schufa. As a result, you may face legal proceedings. Doing so would also damage your creditworthiness and make it difficult to apply for credit in the future.