Bank of America overdraft fee overhaul

NewsChannel 10

Bank of America is rethinking its overdraft fees.

The company plans to test a pilot program early next year that will let customers accept a $35 overdraft fee when a debit transaction is denied at a register.

If the customer's purchase is declined, they would immediately receive a text from the bank asking if they want to go through with the transaction and accept the overdraft fee.

Bank of America says if the customer adds money to their account in the same day as the transaction, the overdraft fee will be waived.

Just last year, the bank stopped allowing transactions that overdraw a customer's account at checkout.