Lauren Smith, WalletHub Staff Writer
@laurenellesmith
Ace Elite overdraft protection works by providing you with a $10 purchase cushion for a month after your employer or government benefits provider deposits at least $500 directly in your account. Only one transaction that brings your account to negative $10 or less is allowed at a time.
For example, if you purchase an item for $15 when you have $5 in your account, the transaction will go through, bringing your balance to -$10. However, any subsequent purchases that cause the balance to fall below -$10 will be declined until you deposit more money.
Other Key Things to Know About Ace Elite’s Purchase Cushion
- You must repay the negative balance within 30 days.
- Deposits are allowed while you have a negative balance, but you cannot make any purchases until your account is brought current.
- The company may approve negative balances resulting from PIN and signature-based transactions.
- Bill pay, ATM, and ACH debit transactions are not eligible for purchase cushion coverage.
- The $10 cushion is a non-contractual courtesy, and you are generally not permitted to make purchases that exceed your balance. It is up to the company’s discretion whether they will extend overdraft protection to you.
You can learn more about overdraft protection for prepaid cards here at WalletHub.
People also ask
What is the Ace Elite overdraft limit?
Ace Elite does not specify an overdraft limit for their card. However, overdrafts are paid at their discretion. This means they don't guarantee the authorization and payment of overdrafts, even when you are enrolled in their overdraft protection service.
Can you overdraft with ACE Elite card?
Did we answer your question?
Important Disclosures
Ad Disclosure: Certain offers that appear on this site originate from paying advertisers. For full transparency, here is a list of our current advertisers.
Advertisers compensate WalletHub when you click on a link, or your application is approved, or your account is opened. Advertising impacts how and where offers appear on this site (including, for example, the order in which they appear and their prevalence). At WalletHub we try to present a wide array of offers, but our offers do not represent all financial services companies or products.
Advertising enables WalletHub to provide you proprietary tools, services, and content at no charge. Advertising does not impact WalletHub's editorial content including our best picks, reviews, ratings and opinions. Those are completely independent and not provided, commissioned, or endorsed by any company, as our editors follow a strict editorial policy.