Debit card transaction fee regulation

3%; as regards consumer debit card transactions, allows EU countries to impose a fee of no more than 5 Since July 1, Regulation E has required that in order to charge an overdraft fee (which includes NSF fees) for an ATM or one-time debit card transaction that overdraws a consumer's checking account, the bank must have made certain disclosures to the consumer about the bank's standard overdraft service, including fees, obtained the consumer's agreement to the service and fees (also known as an 1. Updated December 13, 2021 Jun 29, 2011 · Under the final rule, the maximum permissible interchange fee that an issuer may receive for an electronic debit transaction will be the sum of 21 cents per transaction and 5 basis points multiplied by the value of the transaction. Others don’t charge excessive withdrawal fees at all. 3% of the value of the transaction. Mar 5, 2013 · On October 1, 2011, the debit card interchange fee standard in Regulation II went into effect. 00, + 4 percent if paying with a credit card. 3 cents fraud-prevention adjustment, effective June 30, 2025. 21 plus 0. This survey serves as this report. The regulation limits the maximum permissible interchange fee that a covered issuer can collect from merchants for a debit card transaction. The fee or surcharge can be either fixed or percentage-based, and can be levied by either the agency as merchant or its third-party vendor. 8 billion in 2021, according to the Nilson Report. How much do debit card transactions cost? As part of the Durbin Amendment, the interchange fee for debit card transactions cannot exceed $0. 55% + 4 cents), a $5 transaction incurs 11. 3 million. 01 for fraud protection. The rule exempts financial institutions with less than $10 billion in assets. 75 cents in interchange transaction fees, which is below the proposed 12 cent cap contemplated in the proposed regulation. 1376 (2010). In 1985, California passed a law (Civil Code section 1748. Among the rules it establishes: To limit your liability to $50, you must report a lost or stolen debit card to your bank within two days Oct 25, 2023 · By PYMNTS | October 25, 2023. Covered issuers are those with worldwide assets, including affiliates, of $10 billion or more. See full list on federalreserve. 7(b) of Regulation II. — (1) These Regulations may be cited as the Electronic Money, Payment Card Interchange Fee and Payment Services (Amendment) Regulations 2023. See, 12 CFR §1005. allowed by MasterCard to levy both a convenient fee on card-not-present transactions, and a surcharge on card-present transactions, as well as being able to offer a lower fee for an e-check transaction. Oct 25, 2023 · Under the notice of proposed rulemaking, the Fed would revise Regulation II to lower the cap from its current rate of 21 cents and . An issuer complies with the requirements of paragraph (a) of this section only if each interchange transaction fee received or charged by the issuer for an electronic debit transaction is no more than the sum of— (1) 21 cents and; (2) 5 basis points multiplied by the value of the transaction. Overdraft fees occur when you don’t have enough money in your account to cover your transactions. 2% of the transaction value for consumer debit cards and at 0. Z. 3% for consumer credit cards; as regards consumer credit cards, allows EU countries to define percentage caps lower than 0. Public Law 111-203, 124 Stat. Massachusetts. Interchange fees for debit transactions represent on average 1. Illinois allows surcharging up to 1%, or the cost of the processing fee, whichever is less. According to the Fed’s own data, in 2021, “[t]he number of non-prepaid debit card payments increased most of all card types. Dec 11, 2023 · You may be charged a withdrawal limit fee or an excessive use fee, which typically ranges from $5 to $10 per transaction. These fees can add up quickly and can have ripple effects that are costly. 4 cents and . 05% of the transaction, plus a one-cent fraud adjustment, to 14. The Regulation is expected to impact directly the retail sector throughout the European Union. 7 cent fee on a $50 transaction, down from a 24. 005 de minimis transaction cost for most financial Feb 15, 2024 · The Durbin Amendment regulates banks with assets of $10 billion or more. In the wake of a Federal Reserve Open Board meeting Wednesday in preventing fraud in relation to debit card transactions involving that issuer. 4 (b). 3% of the value of the transaction for any UK credit card transaction. The Board implemented these and other provisions of the Durbin Amendment in 2011 and 2012 when the Board adopted Regulation II (Debit Card Interchange Fees and Routing). Federal Regulation E (Reg E), which implements the Electronic Fund Transfer Act (EFTA), provides guidelines for, among other things, lost or stolen funds when you use a debit card. 14%, or $0. 7 cents on the average $50 debit card transaction, based on data collected in 2021. Debit interchange has been heading Specifically, the regulation: caps interchange fees at 0. Monthly maintenance fees for debit cards in Indiana tend to range from $0 to $15, which is similar to the national average range of $0 to $12. 7(a) and § 235. 31665 (June 4, 2010)). The opt-in applies to any one-time debit card transaction, whether the card is used, for example, at a point-of-sale, in an online transaction, or in a telephone transaction. may process such transactions. As discussed in Electronic Fund Transfers Coverage: Transactions Question 1, Regulation E applies to an EFT that authorizes a financial institution to debit or credit a consumer's account. 3(a). You now have $5 available. That law does allow merchants to give customers discounts for paying by cash, check, or debit card, as long as that discount is offered to all customers. In this article, we review the regulation's first-year impact on different players in the debit card market. You get a debit card from your bank or credit union when you open a checking account. 02/2016. 21 + 0. Debit cards look like credit cards. § 1693o-2, that requires the Federal Reserve to limit fees charged to retailers for debit card processing. The May 17, 2021 · The debit card interchange fee regulation introduced by the Durbin Amendment to the Dodd-Frank Act went into effect in October 2011. The Treasury may by regulations amend paragraph 1 so as to specify a per transaction interchange fee cap lower than 0. There are only three signature debit net- Nov 10, 2023 · The current rule adopted by the FRB in 2011 (Regulation II) states that the interchange fee a debit card issuer may charge per transaction cannot exceed 21 cents, plus a 5. 59033 (Nov. Interchange F ees, Networ k F ees, and Incentives • In 2021, interchange fees across all debit and general-use prepaid card transactions totaled Oct 20, 2023 · Currently, the cap is set at 21 cents plus 0. 4 cents, plus (ii) 4 basis points (. On Day 3, the debit card Jun 30, 2021 · SUPPLEMENTARY INFORMATION: On May 13, 2021, the Board of Governors of the Federal Reserve System (Board) published in the Federal Register a proposal to amend Regulation II to Start Printed Page 34645 clarify that the requirement that each debit card transaction must be able to be processed on at least two unaffiliated payment card networks We would like to show you a description here but the site won’t allow us. Visa and Mastercard debit: between 0. The Board’s Regulation II implements the Durbin Amendment. The interchange fee cap was originally introduced under the Dodd-Frank Act and is implemented by Regulation II. 12 CFR 235. 3 A debit card transaction We would like to show you a description here but the site won’t allow us. Reg. 1693o-2. 2 (j) . 1 day ago · The Fed last year proposed revising Regulation II to lower the cap from its current rate of 21 cents and . The rules, part of the Dodd-Frank Wall Street Reform and Consumer Protection The Durbin amendment, implemented by Regulation II, [1] is a provision of United States federal law, 15 U. 0004) of the transaction value, plus (iii) 1. A proposed further amendment to Regulation II would see the maximum interchange fee paid to an issuer per debit card transaction fall. This fee can only apply to credit cards—and never debit, even when a debit card is run like a credit. As for calculating the fee, surcharges are predominantly percentage-based. Colorado allows credit card surcharging up to 2%. 5 billion or more in fees per year. 17, 2009) and 75 Fed. The price tag of an item shows “$10. This provision regarding debit card interchange fees is effective on October 1, 2011. The term EFT includes debit card transactions. 2 EFTA section 920(b)(1) directs the Board to prescribe regulations that limit the restrictions issuers and payment card networks (networks) may place on the processing of debit card transactions. 25) to tackle merchant debit card fees. 6. The Board also amended Regulation E to restrict fees and expiration dates on gift cards and to require that May 16, 2017 · For example, suppose a customer makes a $38 purchase, which is the average debit card transaction in 2009 reported by the Federal Reserve. 05% times the transaction value. This could cost you expensive overdraft fees. 2 Under the current rule, each interchange fee received by a debit card issuer for a debit card . 4 percent since 2018. Certain fees relating to some American Express card transactions are also capped. 5%. Nov 2, 2023 · On Oct. 05% of the transaction value. Oct 18, 2023 · The Fed initially proposed a cap of up to 12 cents and eventually settled on a maximum of 21 cents per transaction. Jan 24, 2024 · The Board of Governors of the Federal Reserve (the “Board”) has announced that it is extending the comment period for its proposed changes to its debit card interchange fee rule until May 12, 2024. 4 (a) does not differentiate the adjustment by authentication method or by type of transaction. But, what constitutes affirmative consent and how is Feb 6, 2024 · A convenience fee, service fee, administration fee, non-cash adjustment, technology fee, processing fee, etc. Oct 25, 2023 · In practice, the proposed changes would result in, on average, a 17. This would be the first adjustment to the initial fee cap Jul 20, 2011 · Of this interchange-fee revenue, $12. Let’s say it costs you 3. 5 billion was for prepaid card transactions. Oct 17, 2022 · Of note, to the extent that debit card issuers do not currently have this capability on their debit cards, they will need to reissue their debit cards by July 1, 2023. Access now . Most of EFTA section 920's requirements relate to debit card transactions—referred to in the statute and in Regulation II as “electronic debit transactions”—which are defined in EFTA section 920 (c) (5) as “transaction [s] in which a person uses a debit card. Dec 7, 2009 · Answer: Answer by David Dickinson: You do not have to provide the refund of fees (making them completely whole) at the time of provisional credit, only interest at that time. Next, you use your debit card to make a $10 purchase. Back to Citation. 3% for consumer credit cards. The law was challenged by several businesses, and in January of May 6, 2022 · The amount of interchange fees received by issuers of government-administered, general-use prepaid cards decreased by about 30 percent between 2020 and 2021, from $1,038 million to $722. 5% and 1%. Jul 12, 2023 · 1. This survey solicits information regarding (1) volumes and values of debit card transactions (including general-purpose prepaid card transactions) processed by the network; (2) interchange fees paid by acquirers and Aug 3, 2012 · Regulation II defines an interchange transaction fee (or “interchange fee”) to mean any fee established, charged, or received by a payment card network and paid by a merchant or acquirer for the purpose of compensating an issuer for its involvement in an electronic debit transaction. The standard As a guide, the Reserve Bank of Australia has estimated average costs for different payment types: Eftpos: less than 0. 3(b)(1)(v). Currently, about 60 percent of all debit card transactions are signature-authorized and 40 percent are PIN-authorized (Chart 2). To date, there are no such laws or regulations limiting the interchange transaction fees an issuer may charge for credit card purchases. In addition, the final rule notes that credit unions do not need to affirmatively guarantee that two unaffiliated networks will always be available to all merchants in every A credit card surcharge (or cc surcharge) is a fee enforced by the merchant to compensate for some of the cost of payment processing. 2% of the value of a transaction for consumer debit cards (including prepaid cards), and 0. ” NOTE: This law does not apply to debit cards. To accept these payment types, most businesses incur costs within these ranges. Section 235. 1 Debit card networks process either signature-authorized transac-tions or PIN-authorized transactions. Oct 25, 2023 · Currently, the cap is set at 21 cents plus 0. 44, of each debit transaction, and in 2009, these fees cost U. 4 (a) permits an issuer to increase the amount of the interchange transaction fee it may receive or charge under § 235. We also Jan 14, 2019 · Unauthorized transactions. This holds true even if the merchant’s cost to process the transaction is higher than 3%. 5 billion was for signature debit transactions, $3. For these banks, the debit card interchange fees are capped at $0. Wang: Debit Card Interchange Fee Regulation 163 Figure 2 Interchange Fees for a $50 Transaction Figure 2 plots the interchange fee for a $50 non-supermarket trans-action for Visa and MasterCard credit cards, signature debit cards, as well as the top four PIN debit cards in the United States. Specifically, section 920 prohibits networks from inhibiting the ability of merchants to Jul 21, 2010 · The Board may prescribe regulations, pursuant to section 553 of title 5, regarding any interchange transaction fee that an issuer may receive or charge with respect to an electronic debit transaction, to implement this subsection (including related definitions), and to prevent circumvention or evasion of this subsection. 0 percent, more than twice the a verage annual growth rate of 6. gov Board Memo: Proposed Amendments to Regulation II (Debit Card Interchange Fees and Routing) to Clarify the Prohibition on Network Exclusivity; Biennial Report on 2019 Interchange Fee Revenue, Covered Issuer Costs, and Covered Issuer and Merchant Fraud Losses Related to Debit Card Transactions. The fees are among most merchants’ highest operating costs and drive up prices paid by consumers by about $900 a year for the average family. 3 cents. Supreme Court justices on Tuesday grappled with a North Dakota convenience store's challenge to a government regulation on debit card "swipe Jan 17, 2024 · These institutions typically charge $35 for an overdraft loan, even though the majority of consumers’ debit card overdrafts are for less than $26, and are repaid within three days. 31 billion, an increase of 7. 04% per transaction and a 1. merchant) to direct the routing of debit card transactions for processing over any network that. Jun 4, 2024 · Maine. 5(b) and (c) from the interchange fee standards will no longer be exempt if certain fees may be charged to a cardholder with respect to the debit card used to The rule limits the interchange fee to a maximum of 21 cents plus . than others in the costs associated with debit card interchange fees. iv. 25, The FRB proposed to lower the fee to 17. Oct 11, 2022 · EFTA section 920 is codified at 15 U. The MDR is typically around 1%-3% per transaction. 6 As the Where the caps apply, they currently limit interchange fees to 0. ”11 Non-prepaid debit cards made up “approximately 56 percent of all card payments in 2021. 1 Despite the importance of Oct 25, 2023 · The most significant overhaul of debit card interchange fees in more than a decade looms, where those fees may be cut by roughly 30%. Some common fees associated with debit cards in Indiana include monthly maintenance fees, overdraft fees, out-of-network ATM fees, and foreign transaction fees. , is charged to credit card users and added as a separate line item on a customer receipt. 05% of the May 29, 2024 · Overdraft fees. merchants a staggering $16. Section 920 of the EFTA also addresses discounts at the point of sale and transaction minimums. 3 by no more than 1 cent if the issuer complies with the standards in § 235. C. The CFPB estimates that this rule may save consumers $3. ”. (a) regulations 1, 2, 4 (1), (2) and (5) on 18th September 2023; (b) regulations 3 and 4 (3) and (4) on 1st January 2024. Comments were originally due on February 12, 2024. 0 basis point ad valorem component (multiplied by the value of the transaction), less a 1% fraud prevention adjustment. Jul 20, 2011 · Section 235. to prohibit institutions from charging overdraft fees for ATM and one-time debit card transactions, unless the consumer opts in or affirmatively consents to the institution’s overdraft services (74 Fed. 5(d) provides that, beginning July 21, 2012, debit card transactions initiated using a general-use prepaid card that otherwise qualifies for the exemption under § 235. The new rule extends the mandate that debit card transactions be processed on at least two unaffiliated payment card networks—for example, a PIN debit and a signature debit network—to card-not-present transactions. But they do not work the same way. 1) that prohibited merchants from adding a surcharge (an extra fee) when customers pay by credit card instead of cash. 15 percent of the average transaction amount. If your business accepts payment by credit or debit card, some new rules of the road may help you lower your costs. (2) Subject to paragraph (3), these Regulations come into force as follows—. For any courtesy pay or overdraft protection offered for ATM and one-time debit card transactions, Regulation E requires disclosures and the member’s affirmative consent (opt-in) to coverage for those transactions and the associated fee. Jul 27, 2015 · The Interchange Fee Regulation allows national governments to set caps below 0. Under Regulation II, interchange fees received by a debit card issuer for a Oct 3, 2022 · Debit and credit card “swipe” fees that banks and card networks charge to process transactions totaled $137. For accounts opened on or after July 1, 2010, the financial institution must comply with § 1005. charging overdraft fees for ATM and one-time debit card transactions, unless the consumer opts in or affirmatively consents to the institution’s overdraft services (74 Fed. The prohibition on assessing overdraft fees under § 1005. May 13, 2021 · The data summarized in the report are collected through mandatory surveys of debit card issuers subject to the interchange fee standard in Regulation II (covered issuers) and payment card networks. The Fed also proposed Jan 22, 2024 · On November 14, 2023, the Board published in the Federal Register a proposal that would (1) update all three components of Regulation II’s interchange fee cap based on the latest data reported to the Board by large debit card issuers, (2) update the interchange fee cap every other year going forward by directly linking the interchange fee cap Oct 25, 2023 · prescribe regulations concerning the routing of debit card transactions. 20% for domestic credit and debit card transactions. Similarly, under the same Visa and MasterCard small ticket This fee is paid to the merchant’s bank and then further split among the other market participants in the form of interchange fees, assessment fees, and payment processing fees, as described below. 05% (approximately 2 cents) for a total of 23 cents. The cost for overdraft fees varies by bank, but they may cost around $35 per transaction. 10. Dec 18, 2019 · See, 12 CFR §1005. 17(b)(1) applies to all institutions. for sales on card transactions. [2] This cap applies to both PIN and signature debit transactions. Yes. 05% of the value of the debit transaction, in addition to a one-cent fraud-prevention adjustment. This new average fee is based on proposed components of (i) 14. S. 2 billion. The Federal Reserve will meet Wednesday (Oct. Since credit card interchange fees Part of this act limits the transaction fees for merchants imposed by card issuers, but it also goes further to limit transaction fees in general for debit and credit card transactions. As a report by Reuters notes, analysts expect the central bank will propose Mar 21, 2019 · The Board's Regulation II (Debit Card Interchange Fees and Routing), which implements section 920, provides that a debit card issuer subject to the interchange fee standard (a covered issuer) may not receive an interchange fee that exceeds 21 cents plus 5 basis points multiplied by the value of the transaction, plus a 1-cent fraud-prevention Dec 11, 2023 · You may be charged a withdrawal limit fee or an excessive use fee, which typically ranges from $5 to $10 per transaction. Feb 6, 2024 · A convenience fee, service fee, administration fee, non-cash adjustment, technology fee, processing fee, etc. During the same period, the number of transactions performed using government-administered, general-use prepaid cards decreased about 17 percent charged by banks that issue debit cards to consumers and are paid by merchants each time a debit card is swiped in connection with a purchase. 30% and 0. This Visa surcharge rule is one that can often confuse merchants, as it somewhat contradicts the first rule. Some banks also may charge what are known as continuous overdraft The Board implemented this requirement when it adopted Regulation II in July 2011. 17 (a). 7 percent from 2009 to 2020. Sometimes a debit card is free to use. 08 KB) This guidance document also is available in Korean, Vietnamese, and Chinese. However, if you find they are right (there was an unauthorized debit), you do need to make them completely whole (refund all fees as if it never happened) in a final (b) Determination of reasonable and proportional fees. One-time debit card transactions. A cap on interchange fees for both debit and credit card-based payment transactions was introduced in all Member States as of 9 December 2015, under Regulation (EU) 2015/751 (the "Regulation"). Visa and Mastercard credit: between 1% and 1. 17(b)(3)). The average interchange fee for all debit card transactions was 44 cents per transaction, or 1. Nov 10, 2023 · The current rule adopted by the FRB in 2011 (Regulation II) states that the interchange fee a debit card issuer may charge per transaction cannot exceed 21 cents, plus a 5. There may also be an additional $0. What is a debit card? Debit cards are a way to pay for things. 12 CFR 1005. Sometimes you will pay a fee to use the card. Under the rule, the interchange fee received by the bank would be 21 cents plus 0. the growth rate in the volume of non-prepaid debit card transactions from 2020 to 2021 w as higher , at 14. 0 basis point ad valorem Mar 8, 2024 · Opt in to overdraft coverage and agree to pay an overdraft fee. Taken together, § 235. 4 cents, the ad valorem (which means it depends on the value of the transaction) portion would decrease from five basis points (multiplied by the transaction Sep 2, 2016 · Revenue from the total of debit card interchange and overdraft fees often accounts for over 50 percent of a given credit union’s total non-interest income. Regulation II implements the provisions of section 920 of the EFTA that govern debit card interchange fees and network routing and exclusivity limitations. Nov 12, 2009 · The Federal Reserve Board on Thursday announced final rules that prohibit financial institutions from charging consumers fees for paying overdrafts on automated teller machine (ATM) and one-time debit card transactions, unless a consumer consents, or opts in, to the overdraft service for those types of transactions. On October 25, 2023, the Board issued a Notice of Proposed Rulemaking for Regulation II. The base component would decrease from 21. If there are multiple Feb 20, 2024 · Visa Inc. pdf (263. Nevertheless, some merchants saw increases in the •In 2019, interchange fees across all debit and general-use prepaid card transactions totaled $24. WASHINGTON, Feb 20 (Reuters) - U. Mar 3, 2011 · Under current published Visa and MasterCard small ticket transaction debit interchange fee rates (both set at 1. The IFR caps took effect from 9 December 2015. The fee cap applies to banks and financial institutions that issue debit cards and have $10 billion or more in deposits. It also proposed to update the cap every other But some financial institutions will consider the consumer’s balance for purposes of an overdraft fee decision as $50, as already having been reduced by the not-yet-settled debit card transaction from Day 1, and thus the settlement of the $60 ACH debit will take the account negative and incur an overdraft fee. |. 0 to 14. For example, if a consumer pays $100 for a product and the MDR is 3%, the merchant would Jan 30, 2024 · However, the CFPB found that the service provided by the bank – the handling of an NSF account that does not have enough funds to settle an authorized debit card transaction between the time of authorization of that transaction and the settlement of that transaction – resulted in an $0. Approximately 23 million households pay overdraft fees in any given year. In the consultation launched today (27 July 2015), the For example, suppose a customer makes a $38 purchase, which is the average debit card transaction in 2009 reported by the Federal Reserve. 17 (b). May 7, 2021 · The Federal Reserve Board on Friday invited public comment on proposed changes to Regulation II (Debit Card Interchange Fees and Routing) to clarify that debit card issuers should enable, and allow merchants to choose from, at least two unaffiliated networks for card-not-present debit card transactions, such as online purchases. Mar 26, 2024 · Background: Regulation II requires payment card networks to file reports with the Board. Follow. Application of fee prohibition. The Federal Reserve Board (FRB) issues proposed amendments to the interchange fee cap in Regulation II (Debit Interchange Fees and Routing). Payment service providers must not offer or request a per transaction interchange fee of more than 0. Against the background of the intensive growth Feb 12, 2024 · Surcharges on Visa transactions cannot exceed 3%. It was passed as part of the Dodd–Frank financial reform legislation in 2010, as a last-minute addition by Dick Durbin, a May 9, 2024 · in the usage in debit cards. You could overdraw your account if the bank allows the $10 purchase to be processed. Credit cards use money that you borrow. Oct 3, 2022 · The Federal Reserve today finalized a controversial, ABA-opposed rule expanding Regulation II, the implementing regulation for the Durbin Amendment. 05% of the transaction, plus a one cent fraud adjustment, to 14. ”12 An increase in total debit card transactions would lower Mar 22, 2016 · You ask the phone company to electronically deduct $35 from your checking account to pay the bill. 2. 5 cent fee currently, according to Fed officials. 3 cents fraud prevention adjustment, effective June 30, 2025. 17 (b) (1) and obtain the consumer's affirmative consent before the institution assesses any fee or charge on the consumer's account for paying an ATM or one-time debit card transaction pursuant to the institution's overdraft service. 5% to process Visa credit cards. The average interchange fee per debit card transaction declined from 48 cents in the first three quarters of 2011 to 30 cents in the fourth quarter of 2011 (Table 1), suggesting that many merchants experi-enced cost savings. 6 Specifically, Regulation II’s prohibition on network exclusivity provides that an issuer must allow a debit card transaction to be processed on at least two unaffiliated networks, each of which does not, by rule or policy, restrict the operation of the network Oct 11, 2022 · interchange transaction fees for debit card transactions and rules for debit card and credit card transactions. Regulation II capped the interchange fee that a debit card issuer may charge or receive at 21 cents per transaction plus 5 basis points times the value of the transaction. 2 billion was for PIN debit transactions, and $0. California (effective July 1, 2024) Other states have laws that allow surcharging but with some contingencies. Overdraft fees, usually around $30-$35, are for transactions that result in a negative account balance. • The average level of interchange fees did not change materially for covered transactions after Regulation II took effect in the fourth quarter of 2011. October 2023. The Fed is required to review the cap every two years, but has not adjusted it since the original limit was put in place, even though the cost of a debit card transaction for banks has fallen to 3. 9. As described above, the current interchange fee standards provide that, for a debit card transaction subject to the . 9 cents from 8 cents as of 2019 Sep 5, 2011 · bus78-new-rules-electronic-payments-lower-costs-retailers. Oct 3, 2022 · Regulation II also implements a separate provision of EFTA section 920 regarding debit card interchange fees. Determine that the credit union provides members who do not affirmatively consent to the overdraft service for ATM and one-time debit card transactions with the same account terms, conditions, and features provided to members who affirmatively consent, except for the overdraft service for ATM and one-time debit card transactions (§ 1005. as tx gf xp mz bm tl ws ho qz