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It is not exactly the same thing. The commenter you are responding to is looking to avoid overdraft, not having an insurance on overdraft. I'd agree with the i
by nomagicbullet 4y ago
It is not exactly the same thing. The commenter you are responding to is looking to avoid overdraft, not having an insurance on overdraft.
I'd agree with the idea of avoiding overdraft entirely unless a customer signs up for it. I don't want transactions I can't afford to go through. I manage my accounts quite closely. For me such situation would be 99% an unintended transaction that I would like to cancel.
By letting such requests go through, banks put the burden on the customers to clean up after a wrong or, in many cases, illegal transaction.
YMMV.
- vorpalhex 4y agoOverdrafting IS opt-in. I had a bank charge me an overdraft fee. I asked them to show me my overdraft authorization. It's amazing how fast a bank can return money when they screw up.
- Spoom 4y agoI turned overdraft coverage off at my bank. You can turn it on and off on-demand through their website. If your bank won't let you do this, consider another bank.