Can a bank enroll my business account in overdraft protection without my knowledge?

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Can a bank enroll my business account in overdraft protection without my knowledge?

I recently opened a business account. I had been making debit transactions out of the account and did not realize my account was low. The bank continued to approve my card then turned and charged me $38 NSF fees. I called the bank and they said that I had overdraft protection on my account. I tole them that I did not sign up for that nor did I want it. They told me that it was required on all business accounts. Can they do this? They hit my account with 30 NSF fees of almost $1200. I know the obvious, why wasn’t I tracking my account but I assumed the card would declined.

Asked on February 23, 2012 under Business Law, Arizona

Answers:


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