Ally Financial Inc. Bank Account Or Service Complaint

Ally Financial Inc. Bank account or service department,

Checking account Problems caused by my funds being low Virginia

I contacted Ally Bank - Ally.com - about how to opt out of having the bank cover an overdraft with an ATM fee and thus opt out of related fees. They told me there is no way to opt out of having the transaction covered ( and also told me there 'd be a fee ). This seems to contradict the law - as well as Ally 's own website. Below is the chat session ( please note my real name is not used in the chat session - I do n't want my real name published on the CFPB website. Plus, I was asking the question on behalf of my brother, who does n't have an account with them, and i did not want them to answer the question specific to my account ) CHAT SESSSION BELOWWelcome to Ally 's Live Chat. Thanks for joining us! A Customer Care Associate will be with you in a moment. You are number - in the queue. Thank you for waiting. You are now chatting with - : Thank you for chatting with me today. How can I help you? - : Hi, chatted a second ago about opting out of having


were to overdraft the account. Are you sure about this? My - understanding of the law, from a webpage ( not a lawyer ) is this : - : Remember to wear black - -, because that 's the day the infamous $35.00 - may finally meet its demise. From that day forward, a new Federal Reserve rule will prohibit banks from charging overdraft protection fees unless a customer opts in. Overdraft protection is a service offered by banks that allows checking account holders to temporarily make purchases with a debit card even if they do n't have sufficient funds in their account to cover them. In effect, the bank makes a shortterm loan to the account holder so his debit card is n't declined at the register or an ATM machine. In return, the bank charges an overdraft fee of $10.00 to $35.00, according to an informal - survey. ( The new law ) puts the decision in the hands of the consumer as to whether they want overdraft protection for smalldollar transactions conducted by ATM and debit card, '' says - -, - and - 's senior economic analyst. Read more - - # - Follow us : @ - on - - - on - - - Yes. I advised you that you can place overdraft protection on your checking account if you have a savings account to set that up. I apologize if I was unclear about this earlier, -. - : Yes, you advised that. I do not want overdraft protection of any kind. I want the transaction denied. According to the bankrate website, that is my right by law. I wanted to check if indeed you give me the option to opt out of any overdraft ( as the website suggests is the law ) and how to do it. - - : I 'm sorry for the delay. I 'll be right with you. - - : It states that this would be the consumer 's decision, not that the bank has to offer it. We provide a wayto avoid overdrafts and it is up to you to choose if you want to use them or not. - : From that day forward, a new Federal Reserve rule will prohibit banks from charging overdraft protection fees unless a customer opts in. - : That seems prettty plain that I have to opt in to pay an overdraft fee! - : Do you have a manager? - - : I do have a manager. - moment while I get - on the line for you. It make take 35 minutes to get them on. I apologize for the wait. - - : They are trying to get their system up. It will be a few more moments. - - : Unfortunately, my manager is not able to get their chat program up. Would you be willing to receive acall from them? - : Can he come to your cmputer and chat? - : If not, I might simply turn this chat window o