Overdraft protection vs overdraft service vs none

[Snook_on_the_Line]

Looking at my WF checking account statement and at the bottom I see check boxes for:

_overdraft protection 

and

_overdraft service

overdraft service is checked off.   

when I opened the account a few years ago I vaguely remember the banker asking me if I wanted overdraft protection and I explained that I don't write checks (cuz who still writes checks in 2021) and that I treat the minimum daily balance required to avoid fees as zero & stay well above it 

she just looked at me and said I didn't need overdraft protection and I guess signed me up for overdraft service and I never gave it another thought until now 

im thinking of branching out and opening a checking account with whoever's got the best sub right now and I'm going to be asked if I want overdraft protection when I do so 

so can anyone please explain what the difference is 

[FicoMike0]

Wow, that's a good question! I'm going to have to ✔ my wells account, but I always just say no to anything about overdraft. I want to make sure there's no hard pull opening a deposit account.

Here's what I got from fdic,

In general, for debit card transactions at ATMs or at merchants, consumers must opt-in, or agree up front, that the bank can charge you an overdraft fee for any debit card transaction that overdraws the account. If you don’t opt-in, you can’t be charged a fee. However, your bank may refuse your purchase if it will overdraw your account.

[FicoMike0]

Here's a great resource for subs,

https://www.doctorofcredit.com/best-bank-account-bonuses/

Here's another,

https://www.bankrewards.io/offers

I did the us b checking for $500

https://www.usbank.com/splash/checking/2024-all-market-checking-savings-offer.html

Paid about 5 weeks after account opening.

[Snook_on_the_Line]

Yea I did some reading on the wf website faqs and found that they consider it overdraft protection when you opt in and link another account (cc, savings, cloc, ploc,ect) to be a back up funding of sorts for your checking account  letting atm withdrawals, debit purchases, bill pays or checks be paid even if you have nsf in your checking.    No overdraft or transfer fee. 

    Now  I remember why I declined it in the first place, transfers from CCs or LOCs are only available in increments of $100 or $ 300 and begin to accrue interest immediately.  
so a $10 overdraft would potentially tap my CC for $300 coded as a cash advance. 
I am so not into paying CC interest. 

I guess when I declined overdraft protection they automatically enrolled me in overdraft service which the website defined as items will be paid into overdraft if you have nsf at WFs discretion and a fee of $35 will be charged for each paid item ( up to three a day).  

I can't believe it took me three years to notice this on my statements.   

[Zoostation1]

I don't bank with WF, but this is good to know nonetheless.  My understanding is like that of @FicoMike0 where you have to opt in.  WF should by default not have you enrolled in overdraft service unless you explicitly opted in.  I've been fully out of overdraft service for 10+yrs (I got out of it when I was in the midst of credit woes and wasn't using CCs), but may reconsider.  I use a smallish regional bank for my checking and keep a smaller savings account with them that I'd consider linking to my checking as an emergency backup (though I keep a buffer in my checking anyways).