Reminder: not all debit transactions are subject to opt-in

Reader Melissa writes:

Hello, I noticed today that I had two overdraft fees on my account. I DID NOT opt in for the protection. My account has gone negative once or twice since the new policy, and not one overdraft fee. That changed today, One was for a .99 itunes transaction which they turned around and charged me $34 for, and the other was for my cable bill which I was short $20 on  my account. So since I did not opt in, they are supposed to decline right? How do I get my money back. Thank you, Melissa

What she’s found is one of the loop holes that banks have with automatic overdraft protection.

Electronic transactions like bills and online purchases where you’ve given a company like Apple your debit card number are not required to adhere to the automatic overdraft protection opt-in rules, so Chase can legally bilk you as before, and they do.

1 Comment

  • By Unhappy Chase Customer, January 26, 2011 @ 7:03 am

    Chase makes it difficult to pay them money. I am trying to pay $57,000 to them to pay off a loan, and I having difficulty getting the official pay off quote from them. A team leader with their bankruptcy department actually hung up on me without answering all of my questions!

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