[quote name='crystalklear64']I never understood overdraft stuff. If I don't have enough money to pay for something it just declines the transaction.
What I think its like, is like turning your debit card into a credit card. Is that right?[/QUOTE]
Check cards (Debit cards) are usually supposed to be like "writing a check". Most banks give "overdraft" protection to your checking account (or used to) such that if you "wrote a check" and didn't have sufficient funds to cover it, they'd pay the difference and then charge you a fee (25+ these days).
If you decline overdraft coverage (per the new federal law giving us the ability), then your debit card will work like a credit card, where your "available credit" is basically your "available balance" in your checking account. Try to overcharge by even a penny and your card will get declined.
And apparently, it varies on a state to state basis as to when banks need to comply with the new federal law -- cause I know in NY, the earliest it took effect was 8/1. If LP is claiming it's been in effect for months in CA, then maybe each state is different.