Description of service
The cost of my overdraft protection was $2.00 per occurance. Usually overdraft protection is free. It generally is added to an account when it is linked with an additional account. For example, if you open a checking account and it is linked to a savings account and you overdraw your checking account the money is sent from the savings account to cover the overdraft. The $2.00 fee came from my savings account and went directly to the bank.
Review of Service
I think this service is very beneficial. Its so much better to pay a $2.00 transfer charge than a $28.00 overdraft fee. Also, the protection ensures that the check is going to be paid rather than returned. The lady from the back called me, told me that I was going to be overdrawn but that I had overdraft protection and that the check would be paid because they were going to transfer the money over to my checking account from my savings account.
Tips
You really should set up overdraft protection. As stated above, it will cost you way less than the overdraft charge and save you the embarrassment of having a check bounce. Also, most customer service reps. have offered this to me for all of my accounts, if they don't ask you about it, you should ask them.
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