another good thing to add is Chase actually gave me the option when I opened my account a few weeks ago to decline the transaction to avoid overdraft fees which I opted for. If I'm that broke I don't need more fees! (thank god I'm not THAT broke anymore)
That is required by all banks, since the passage of the Dodd-Frank Act. It's not simply a Chase feature.
Some banks don't allow any overdrafts from one-time check card purchases, as well - no opting in or out - they simply deny them. Bank of America and Citibank are two of the biggest banks that have that policy.