Overdrafting Bill - KFDA - NewsChannel 10 / Amarillo News, Weather, Sports

06/01/07

Overdrafting Bill

You may no longer be able to use your debit or ATM card, if your bank account is low on funds.

A new proposal may save you money but take away some privileges

The average overdraft fee for debit and ATM cards, in our area is between 17 and 35 dollars per transaction.

A new bill could save you on fees, but make you stay on top of your balance. Instead of paying fees when you over draft, this bill could make it so your debit card is denied if you don't have enough money in the account to cover the transaction...

Debit card user, Oscar Morales said,"I think I'd rather pay the fee in that case"

The proposal applies to debit and atm cards but not to checks.

Experts estimate the banking industry earns more than 10 billion dollars a year in over draft fees.

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