What is the difference between Overdraft Protection and Overdraft Settings?
Overdraft Protection is a service you can sign up for that links your Bank of America checking account to a second Bank of America account—such as a savings or credit card account—and automatically transfers available funds to cover your transactions. The service is designed to give you more flexibility when you need to make purchases and don’t have enough money in your checking account at the time of the transaction. It also helps prevent returned checks or other overdrafts on your accounts. The Overdraft Setting for your checking account determines how the bank handles your transactions when you do not have enough money in your checking account or your linked Overdraft Protection account at the time of the transaction. We pay overdrafts at our discretion based on factors such as the purchase or withdrawal amount and your account history, which means we do not guarantee that we will always authorize and pay any type of transaction.
