How Consumers Use Overdrafts

Overdrafts and the US Consumer: A 2023 Report One in 5 consumers overdrew their accounts in the last 12 months and 60 percent of those who did had an overdrawn account past the bank’s free grace period. PYMNTS Intelligence’s latest study of 2,848 U.S. consumers explores the state of consumer overdrafts in the U.S. and how they are used as a credit tool to cover short-term financial needs, and even if it comes with a cost. Read more in “The Credit Accessibility Series: How Consumers Use Overdrafts,” a collaboration with Sezzle.
Inside the September Report
  • 39%: Portion of paycheck-to-paycheck consumers struggling to pay bills who experienced overdrafts or declines
  • 64%: Share of consumers who overdraft their accounts and experienced broader credit accessibility issues
  • 45%: Portion of credit marginalized consumers who experienced overdrafts or declines

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