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New Overdraft Rules Will Soon Go Into Effect

Tuesday, May 11, 2010 - 11:45 AM
As reported by Kiplinger, many banks have already implemented changes in their overdraft policies before new rules take effect. Here's a short excerpt about the new rules:
The new rules go into effect July 1 for new accounts and August 15 for existing accounts. After those dates, unless you sign up for overdraft protection, your bank will not cover an ATM withdrawal or a debit transaction if you do not have enough money in your account.
Ken TuminKen Tumin5,471 posts since
Nov 29, 2009
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