Are there any fees for using Overdraft Coverage? February 09, 2021 18:10 Updated There will be no fees and no interest charges for using this feature. Related articles How much can I overdraw using this feature? How would I repay my overdraft? What types of purchases can I make using Overdraft Coverage? How will I activate Overdraft Coverage? I just set up a Direct Deposit with SoFi Money. Why don’t I qualify for Overdraft Coverage?