No opt-in, no overdraft fee

Answered by:

Question:

Can we charge an overdraft fee for a one-time debit card transaction that overdraws an account of a customer who has not opted-in if there were sufficient funds at the time of authorization but not at the time the transaction posts?

Answer:

No. The rule does not include any exceptions for card transactions that overdraw an account. The rule at its simplest is, "No opt-in, no overdraft fee."
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Learn more about John Burnett’s webinar
Overdrafts – A Current View