Whoop protection about to be cancel | Tangerine Bank | Discussion forum

This is what I found, they probably want to charge interest and service fee if we accidentally overdraft in the future.

Whoops! Protection has been a feature of your Tangerine Chequing Account, covering you for up to $250 in case your balance fell a bit short. Over the years, Clients have been asking for a more comprehensive Overdraft feature, which we’ll be introducing next month. As a result, we’ll be discontinuing Whoops! Protection on August 15, 2015.

Not to worry, though, the full Overdraft Protection feature on Chequing Accounts will be available at the same time, and we’ve got you covered. With this comprehensive Overdraft Protection, you’ll get real-time notification if your Account gets overdrawn. We’ll be pre-approving Clients for Overdraft Protection to make the transition easier, so you can expect to hear from us soon with more details about how the new feature will work, and how to get it added to your Account.

In the meantime, please keep in mind that you’re still responsible for any negative Account balances and will need to clear them.

We’ve updated our Account Terms to reflect the changes to the Whoops! Protection feature. The updated section can be found here under the heading ‘Whoops! Protection’.

If you have any questions, please don’t hesitate to call us at 1-888-826-4374.