Answers about Overdraft Fees and Protection

Under what circumstances, can the bank charge me an overdraft fee for paying a one-time debit card transaction?

Banks may assess fees for paying an ATM or a one-time debit card transaction if the following conditions are met:

• The bank provides you with written notice (or electronic notice, if you agree) set apart from all other information, describing the overdraft protection program;
• The bank provides a reasonable opportunity for you to affirmatively consent, or opt-in to the program for ATM and one-time debit card transactions;
• You agree to the payment of ATM and one-time debit card transactions that exceed the account balance; and,
• The bank provides written confirmation (or electronic confirmation, if you agree) of your consent or agreement and includes a statement informing you of your right to revoke or terminate your consent.

February 2011