Why does your bank keep telling you to sign up for overdraft?
New laws require banks to get your permission before allowing you to spend more than you have. Soon, banks will have to reject debit card purchases and ATM withdrawals if you're out of money. Checks and electronic payments should still clear, and will result in those familiar fees.
Banks want to make sure you know about the changes, and they really want you to keep your overdraft protection. Most messages are informative, letting you know what's changing and what you can do about it. Some use a less subtle approach, such as "DON'T LET THIS HAPPEN TO YOU!" [via NetBanker]
It's worth figuring out whether or not you want overdraft protection. Make sure you know what you're getting into before you opt-in. If you want overdraft protection, look for the overdraft line of credit option - it's usually less expensive.
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