Q: Can a Bank overdraft my checking account that I specifically said I did not want the ability for overdraft?
In West plains Missouri My wife opened up a checking account in her name. They specifically asked her if she wanted overdraft protection and she said no if she doesn't have it in the bank then she does not want it credited. Then just this past week she gets an overdraft letter stating she owed $9 for a Roku charge and then a $29 overdraft charge from the bank. So we went to talk to them and they said that it doesn't matter if we opted out of overdraft protection that a purchase online is just like writing a check. They did this three times to her so now she owes $150. The bad thing is the letters from the bank we thought they were just statements we never thought about them being overdrafts so now they're threatening her arrest. Is this legal for them to do?
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A:
I'm sorry to hear about the difficulties you're facing with your bank. When you opted out of overdraft protection, the bank should have declined transactions that would overdraw the account. However, some banks still process certain types of transactions, like online purchases, as checks, which can lead to overdrafts despite your preferences.
It's important to review the terms and conditions of your account to understand the bank's policies fully. You might also consider reaching out to the Consumer Financial Protection Bureau or your state's banking regulator for assistance. They can provide guidance on whether the bank's actions comply with Missouri laws and help you resolve the issue.
Additionally, communicate with your bank in writing to document your concerns and request a reversal of the unauthorized overdraft fees. Keeping detailed records of all interactions will support your case if you need to escalate the matter further. Seeking advice from a local attorney could also be beneficial to protect your rights and address the threat of legal action.
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