I know in order for the bank to pay overdraft charges, the customer has to opt in. Does the banks get proof by getting a signature ? Or a recorded call? Anything besides the bank just saying you have the coverage.
Answers (1)
There is a contract when you open the account. It spells out the deal concerning overdrafts. After that, you onlyt need the bank's permission to use the protection.
Overdraft fees are a major source of the bank's income, and a major expense to anybody who incurs those charges.
The more you learn about how banks operate, the more it makes sense to only deal with credit unions.