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
The Credit Accessibility Report
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The Credit Accessibility Series: Unexpected Expenses and the Demand for External Financing Solutions
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The Credit Accessibility Series: Declining Purchasing Power Pushes Consumers to Improve Credit Scores
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The Credit Accessibility Series: Economic Malaise Exacerbating U.S. Consumer Debt Levels
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The Credit Insecure Need More Education
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BNPL’s Wide-Ranging Impact on Consumers and Merchants
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How Credit Insecurity is Changing U.S. Consumers’ Borrowing Habits