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Charge NSF Fee On POS If Customer Opted In?

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Can an NSF fee be charged on a re-occurring POS transaction if the customer has opted in?

Reg E 1005.17 only applies to one-time ATM/Debit Card transactions. If the institution honors a recurring debit card transaction such as a health club membership or utility bill payment, and that transaction creates an overdraft, a non-sufficient funds fee may be charged whether or not the cardholder has opted in under section 1005.17.

First published on 04/28/2014

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