To Any Bank Tellers?

[Disney Ontario]

Hi Ok. I was just going over our bank account on line. What does PODP Fee stand for. We get quite afew and just Nov. is around $30.00. $5.00 a fee.

 

[figment52]

POS = Point of Sale but I can't say PODP rings any bells. Would D=Deposit?

 

[LadyBears]

The only thing I can think of is:

Payable On Death Protection

 

[sweetspicy]

I'm not sure what the first P stands for, but the rest is probably Over Draft Protection. Maybe Paid Over Draft Protection? Maybe you pay the fee when your account gets overdrawn? I'd be calling my bank to find out, because I wouldn't want to be paying $5 fees all the time. Good luck.

 

[HeatherH]

You're in Canada so it's different from the U.S....but my guess is the OD is Overdraft Protection and they charged you fees because you used the feature.

You need to contact your bank IMMEDIATELY if you don't know what the fees are, to be sure there is no fraud on your account.

Good luck!