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Can a bank pay a debt card payment when no money is in your account and then cahrge you a NFS fee?
Wiki User
∙ 14y ago
Prior to the Credit Card Accountability Responsibility and Disclosure Act of 2009 which came into effect on February 22, 2010, yes the banks could over draft your account to pay a debt card purchase and then charge you an NSF fee, or several depending on how many charges posted that night.
The new laws now require customers to "signup" or "opt-in" for that form of "over draft protection" otherwise if you do not have the funds you'll get the decline at the point of sale, but not the surprise fees on your bank statements.
Wiki User
∙ 14y ago
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