What happens if I do consent (i.e., give the bank permission to authorize and pay ATM and everyday debit card transactions)? How will it work when I do not have sufficient funds in my deposit account?
If you do not have enough money in your account and attempt to make an ATM withdrawal or money transfer, or an everyday debit card transaction, KeyBank would have your permission to let that transaction go through, at Key’s discretion. • For example, you would like to use your debit card at the grocery store. The total charge for your groceries is $120, but there is only $20 in your bank account. KeyBank would have your permission to let that transaction go through, at Key’s discretion. This would overdraw the account by $100 and an overdraft fee likely will be charged, but the transaction could be completed.