Capital One 360 - Teen MONEY Account can overdraft!
KNOXVILLE, TENNESSEE -- I opened a Teen MONEY account for my son over a year ago with ING Direct. ING guaranteed the account could not over draft. I never had a problem until Capital One took over. I called Capital One and the Supervisor advised me the account CAN overdraft, but without a fee. Be warned, this account is just like a normal checking account but doesn't fall under normal regulations. Overdrafts must be covered by parent.