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pelespirit

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Banks need it /s (lemy.lol)

submitted 10 months ago* (last edited 10 months ago) by [email protected] to c/whitepeopletwitter

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[–] [email protected] 11 points 10 months ago (4 children)

Couldn’t you just… opt out of overdrafting?

[–] [email protected] 10 points 10 months ago (2 children)

I'm hoping you forgot the /s, but just in case you're not from the US: no, it's built into almost every financial institution's terms and conditions, at least in my experience. I had to get my mother a pre-paid credit card because she would overdraft regularly, and the bank had no solution. The pre-paid just declines payment, like the good old days.

[–] [email protected] 5 points 10 months ago

Did you specifically ask the bank to disable overdraft protection? They can be really weaselly about turning it off. They HAVE to turn if off. By law.

https://www.fdic.gov/resources/consumers/consumer-news/2021-12.html

In general, for debit card transactions at ATMs or at merchants, consumers must opt-in, or agree up front, that the bank can charge you an overdraft fee for any debit card transaction that overdraws the account. If you don’t opt-in, you can’t be charged a fee. However, your bank may refuse your purchase if it will overdraw your account.

[–] [email protected] 5 points 10 months ago (1 children)

Strange, I’m an American and my bank lets me opt out of it.

[–] can 3 points 10 months ago (1 children)

Opt out of overdraft protection or opt out of the ability to be overdrawn at all?

[–] [email protected] 1 points 10 months ago

Opt out of being able to overdraft all together, if you spend more than you have, it’ll just deny the transaction.

[–] [email protected] 5 points 10 months ago

You should be able to: If there aren't funds for a charge, then they can just not fucking charge it. My bank does this and I do not have overdraft fees because I cannot overdraft.

[–] [email protected] 2 points 10 months ago* (last edited 10 months ago)

Overdraft fees are opt-in by law. You can always opt-out.

All the bitching and moaning on here is weird. There's no point complaining about a thing you don't have to pay for.

[–] [email protected] 1 points 10 months ago

My credit union let me do that