Gosh now you have me worried! lol.
The savings account was opened online and is a completely separate account and to my knowledge they would not pull from that for overdraft purposes.
The checking account already has an amount of overdraft protection offered by the bank due to the fact we have direct deposit so the amount of the overdraft protection is based on the amount of the direct deposits and the average daily balance etc.
Its not a line of credit type of overdraft but instead one based upon our deposit and balance history so it fluctuates but is listed on our statements monthly what they will cover a check up to. No one else would know this except us and the bank which of course they make clear they can change at anytime or not honor anything should they decide kwim? So now I have some other questions..
what if I report that I lost my checkbook? get a new checking account thru them. Would that help? and by help, I mean would that help protect us OR do you recommend just banking somewhere else all together? I hate to give up this account with this bank after banking there for so long but I could move our money to a different bank and change the direct deposit etc and just keep a minimal amount in the accounts at this bank just to keep the accounts and then ride this mess out and see what transpires.
Listen.. this happened to me a long time ago, but it made me wiser. i had a checking account tied to a savings account. my parents were helping me then with my living expenses and would send a check ahead of time to cover for several months. i deposited this check in a separate savings account with the same bank.
over time, money disappeared and i found out that when there was a shortfall in my regular checking, instead of notifying me, the bank would withdraw funds from the separate savings account to cover it.
i would have preferred to have been informed of insufficient funds than finding myself out of money inadvertently one day as the funds diminished. i would keep your bank account and open a savings in a different bank and transfer funds as needed.
Yes, you go tell them you feel your account has been compromised, and they can close out the account and reopen a new one. At the same bank if you so choose. We do it all the time.