Went to the TD bank yesterday, and the teller convinced me to sign up for this "Pay As You Go Overdraft Protection" (PODP).
I sort of understand the use of it, but I'm not exactly clear how I could use it to my advantage, or if there's any use for it at all?
Does anyone have this feature in their chequing account, and how do you normally use it?
Overdraft Limit: $300
Interest Rate: 21% per annum
Fees: We will charge you a $5 fee for each overdraft transaction to a maximum of $5 per day, plus applicable interest charges
Is it a good thing/useful to have this overdraft protection, than not to have it?
I sort of understand the use of it, but I'm not exactly clear how I could use it to my advantage, or if there's any use for it at all?
Does anyone have this feature in their chequing account, and how do you normally use it?
Overdraft Limit: $300
Interest Rate: 21% per annum
Fees: We will charge you a $5 fee for each overdraft transaction to a maximum of $5 per day, plus applicable interest charges
Is it a good thing/useful to have this overdraft protection, than not to have it?