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#1900971 - 02/28/14 12:56 AM OD Fee Notices posted on ATMs
Goal Keeper Offline
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Are Banks required to post an Overdraft Fee Notice on ATMs?

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General Discussion
#1900985 - 02/28/14 12:24 PM Re: OD Fee Notices posted on ATMs Goal Keeper
Elwood P. Dowd Offline
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A simple disclosure of the amount of their overdraft fee? No.
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#1901691 - 03/03/14 06:51 PM Re: OD Fee Notices posted on ATMs Goal Keeper
John Burnett Offline
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What you may be alluding to is a notice that says something like "Transactions may be approved that will overdraw your account and result in overdraft fees." That is a notice suggested by the 2005 interagency guidance on overdraft protection programs as a "second best" if an institution is unable to provide a "best practice" of notifying a consumer when completing a withdrawal at the ATM may trigger overdraft fees.

That best practice has not be superseded by any intervening guidance or rule, to the best of my knowledge.
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#1901759 - 03/03/14 08:16 PM Re: OD Fee Notices posted on ATMs Goal Keeper
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Thanks John.

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#2007382 - 04/10/15 04:01 PM Re: OD Fee Notices posted on ATMs Goal Keeper
morirse de risa Offline
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Should we be specific in regards to the amount of the OD fee? Our current signage states the specific fee, but I would like to change it to a generic statement like the one John noted (then we don't need to remember to change it when fees increase). We've never had a regulator comment on this. Has anyone had a recommendation that the fee should be specific?

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#2007524 - 04/10/15 07:42 PM Re: OD Fee Notices posted on ATMs Goal Keeper
John Burnett Offline
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The "generic" version I suggested 13 months ago has the added benefit of putting cardholders of other institutions on notice (although there's no mandate that you do so).
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#2007657 - 04/13/15 04:41 PM Re: OD Fee Notices posted on ATMs Goal Keeper
morirse de risa Offline
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Midwest
Thanks for your help!

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