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In April, some banks put arrangements in place to help customers stranded abroad and agreed to refund any charges for ATM withdrawals and to consider requests for overdraft and credit card limit extensions.
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Requirements for overdraft services.
§ 205.17 Requirements for overdraft services.
§ 1030.11 Additional disclosure requirements for overdraft services.
12 CFR § 205.17 - Requirements for overdraft services.
§ 707.11 Additional disclosure requirements for overdraft services.
Don't sign up for overdraft protection.
Thankfully, on July 1 a new federal rule will go into effect that requires banks to not charge overdraft fees unless their customers specifically opt in for overdraft protection.
Right now some banks automatically sign their customers up for overdraft protection.
You can also give TextPayMe your credit card for "overdraft" payments.
Many banks encourage you to link your credit card to your checking account for overdraft protection.
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