Chase’s misleading overdraft come-on, take two
Apparently Chase has decided attempting to get people to sign up for overdraft protection for their debit cards, which they will be required to do soon (i.e. opt-in only), using fear isn’t quite getting them the response they want, so they are switching to bait-and switch.
According to this article, Chase is sending out overdraft letters in two stages. The first is the come-on and doesn’t contain any of the negative details, which are the high fees you pay if you overdraft by even one penny. The follow-up letter, presumably in much smaller type, contains all the details about the fees. I suppose they are hoping that people will sign up because the first letter sounds so good, and not bother to read the second letter.
Bad bad Chase, Fees & charges | admin April 25, 2010
