[StavrosK]

One of the things I love Greek banks for is that they have none of this overdraft nonsense. If you have no money in your account, the transaction fails. I've tried to buy groceries and things a few times without having money in the account, and it just didn't go through.

[ahoyhere]

In Austria, you go negative, it's a loan. No penalties, just interest, if you don't fill it back up quickly. Reasonable interest.

That seems like the sanest option to me. (I don't think it happens very often, either - Austrians don't use credit and they have a lot of savings on average.)

[patio11]

You can get this in the United States, too. Get a checking account with ING Direct. I don't make a habit of overdrafting, but it has saved my bacon a few times when e.g. I forgot that a credit card payment and estimated tax payment both happened the day before my client's check cleared.

[bld]

US service members or their families can get the same with USAA. You can choose another account, credit card, or line of credit.

[jules]

I can choose whether I want automatic loans or failed transactions.

[StavrosK]

That's also much better than the overdraft ripoff, but I'd much rather not owe anyone. I guess the best thing would be for the bank to offer that option when opening the account.

[eli]

Isn't that exactly what the new CARD Act requires all US banks to do?