Bank of America to Offer Overdrafts by Text Message

Yes, you read that right, Bank of America wants to give you the opportunity to overdraw your account via text message. I can only imagine the message being something like B0u||ce dAt 8i+ch? YES [] or NO [].

The US bank, which currently rejects debit card transactions that would take customers over their limit, says the programme will give consumers more control over their financial affairs. The text will offer customers the option to over-ride the rejection in return for accepting an overdraft fee. "We think this is a much better approach, to let the customer choose."

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