Skip to content

Regulation E Overdraft Opt-in

Answered by: 

We offer an automatic transfer from savings to checking to cover overdrafts. Can we charge an overdraft fee for a debit card transaction if there are insufficient funds in the savings account?

No. To charge a fee, we must have a customer opt-in to a courtesy overdraft program. This process does not apply institutions that do not have automated programs to cover overdrafts. Regulators consider it an unfair practice if the customer is opting into a fee where no service is being provided.


Learn more about Brian Crow’s webinar The Maze of Overdraft Compliance

First published on 09/13/2020

Filed under: 

Banker Store View All

From training, policies, forms, and publications, to office products and occasional gifts, it’s available here:

Banker Store

hot right now

image description

Looking for effective, convenient training on a particular subject?

BOL Learning Connect offers more than 200 courses ON-DEMAND or on CD ROM from AML to Reg Z and every topic in between.

Search Topics