TD Ratchets Up Overdraft Opt-In Push With Pop-Up Scare Tactics

TD Bank is really stepping up its efforts to try to get customers to sign back up for “overdraft protection,” which really just protects their right to charge you $35 if you want to buy a $2.00 candy bar and only have a $1 in your account. Now they’re greeting customers accessing their accounts online with pop-up ads trying to scare them into agreeing to signing up for the service.

Reader Jay spotted this one last night and was bothered by the fact that they don’t mention on the landing screen that TD Bank will charge you for this dubious favor, but they do make sure to stoke your anxieties a little bit: “Simply say “Yes” To TD Debit Card Advance. And relax. We’ll continue to cover your debit card and ATM transactions, just as we do today – even when you may not have enough funds available in your account.”

Jay said that when you click the “Are there Fees?” FAQ, “It initially says “It’s the same as you already pay for overdraft!,” like it’s no big deal, and then they finally mention the $35 fee. I really feel horrible for the less informed bank customers who think TD (and other major banks) are doing them a favor by pulling these stunts…”

As of July 1st, banks can’t automatically enroll you in “overdraft protection” plans, they have to ask for your permission. Looks like they’re not content to just stuff your mailbox with junk mail telling you what a great deal overdrafts are.