Bank Fees Are More Outrageous Than Ever

Even when having one of the best of days, there arebalance you see may not be what is actually in the
certain little things that can just put a damper on youraccount and available to you right now. Translation: it's
joy. Some things in this category that comeeasy to make an extra charge on the card because
immediately to mind include: finding a soggy newspaperyou believe there is more money in the account than
on your porch that wasn't properly wrapped in plastic,there actually is.
realizing that you are all out of coffee or milk at2. Overdraft protection programs: These programs
breakfast time, or being stuck driving behind acover your "bad checks" and debit card charges that
super-slow dump truck that is tossing little bits of trashbring your account over the limit, but then they charge
right at your windshield. Come on, admit it: you've beenyou a hefty fee for the service.
there, too!3. Debit cards: Debit cards, when connected to an
But, here is one that has become not just anoverdraft protection checking account, can be charged
occasional annoyance but a downright nuisance foreven when your account balance is zero. That means
many, many people: outrageous bank fees. And oneyou can do a day of shopping, come home, and
of the most common type of bank fees these days isrealize you just made 3 or 4 purchases with your debit
the overdraft fee. This is the fee you pay when youcard - even though your balance was already at zero.
make a charge against your account that exceeds theThe fact that your bank didn't reject the charge when
amount in your account at the time.you were at the merchant's store or restaurant tells
Overdraft fees are a particularly frustrating type ofyou what the bank's motive is: to make more profits in
bank fee because they can seem to sneak up on you,the form of overdraft fees.
even when you feel you are being careful about yourMake no mistake: banks are profiting from these
spending habits. Overdraft fees would be bearable if ittrends (to the tune of $26 billion per year in overdraft
were not for the fact that they are costly (up to $35 infees alone), so do not be surprised if they are in no
the case of many national banks) and that theyhurry to fix the status quo.
happen too frequently (in many cases, several timesHow to Fight The Fees
per month).You can protest overdraft fees, although winning the
If you agree that bank fees are more outrageous thanbattle is not easy. If you do try to contest a recent fee,
ever, turn your anger into power! Here is some usefulbe sure to get your facts straight before your call.
information about overdraft fees and what to doAnd, be polite: you catch more flies with honey than
about them.with vinegar!
Why They've Gotten WorseWhat To Do If You Don't Want to Fight Anymore
Bank fees such as overdraft fees are getting moreMost of us are just too busy to want to fight with our
and more attention in the media in recent years duebanks: after all, our time is valuable. If this describes
three major trends:you, instead of fighting your bank, just quit them. You
1. Confusing online bank statements: You may havecan find banks that do not charge overdraft fees,
noticed that your online bank statement is not as easyeven when you overdraw your account. There are
to understand as you might like. Banks can do trickynot many of these banks, but they are definitely out
things to make statements hard to read (too many tothere. And, they are worth looking for, especially if you
explain here). The result is that, in essence, the currentbelieve that bank fees are more outrageous than ever.