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GallantChaos t1_ir9p8j5 wrote

Reply to comment by bandanajack in New Delaware Law Ends Many Fines And Fees That Criminalize Poverty by Osterstriker

Turn OFF overdraft 'protection'. It protects the bank, not you.

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Dje4321 t1_ir9uk0h wrote

Some banks dont let you turn it off.

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GallantChaos t1_ir9unmo wrote

Then I highly recommend not patronizing those facilities.

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Alis451 t1_iraq4ap wrote

Mandatory Opt-out only was made illegal I think back in 2012, but if you Opted in when you opened idk any laws stating you have to be able to opt back out.

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Theletterkay t1_irausg5 wrote

Not necessarily! I use a credit union and overdraft protection with them means thats if you are going to over draft by less than $50, they can take the amount from your savings to use for the charge. They then send a text that your overdraft took money from your savings and that future overdrafts would be blocked unless you call them to unlock overdraft protection again. (You can do this in the app as well).

My CU doesnt ever allow overdrafts otherwise. They do offer a credit card with no fees that they recommend for people who travel and might end up in situations where they need more money than planned or their debit card doesnt go through.

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Alis451 t1_irapy86 wrote

It protects you from being embarrassed for having your card declined, yes that is how they frame it, and yes it is stupid.

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Theletterkay t1_iravdgl wrote

My credit union frames it as letting you get gas even if you dont have enough money. If you have kids they will say its getting diapers or food without having enough.

But my bank doesnt allow real overdrafts. If you overdraft but have money in a savings account, they will take money from that account to cover the purchase. Only once until you tell them to reactivate it.

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