| "Another overdraft fee on my statement?!" The | | | | regular overdraft protection account. |
| words echo across the house/office/coffee shop | | | | 3. HOWEVER, the bank will NOT charge you an |
| airport lounge. "How could they do this to me?" Familiar | | | | overdraft fee for doing so. (Wow - that's refreshing). |
| words, aren't they? | | | | There's no limit to the number of overdrafts you can |
| Of course, a purist will tell you that any overdraft fees | | | | make, either. You just have to make sure that total |
| that a banking customer has to pay is strictly their own | | | | overdraft amount at any one time does not exceed a |
| fault. And, in a way that is true. However, it is an | | | | certain, pre-determined figure. |
| unarguable fact that since the widespread adoption of | | | | If you want to find a bank with no overdraft fees, here |
| overdraft protection programs less than a decade | | | | are some tips: |
| ago, consumers on the whole are paying more in bank | | | | 1. Make sure that the bank is FDIC-insured. This means |
| fees than they ever have. While most checking | | | | that, if your bank were to shut down and close its |
| accounts are now "free," the actual cost of having a | | | | doors for any reason, you can still get your deposit |
| checking account runs into the hundreds of dollars | | | | amount back. |
| annually for many, many bank customers. | | | | 2. Find a bank that allows you to conduct banking |
| In fact, banks earn about $25 billion in overdraft fees | | | | transactions online. This means your having the ability |
| annually in the U.S. alone! The overdraft protection | | | | to login and check your balance, make transfers, and |
| program game is an extremely lucrative one for banks, | | | | pay your bills from the comfort of your home or office. |
| and they want to keep you in that game. | | | | 3. Make sure that the bank you select gives you |
| Fortunately, there are now a handful of banks coming | | | | access to a national ATM network. It's important that |
| onto the scene that do not charge you fees - even if | | | | you are able to get your hands on your cash |
| you overdraft your account. Here's how it works: | | | | whenever you need it. |
| 1. You apply and get accepted for your new checking | | | | Overdrafts are a reality for many people these days, |
| account. Some accounts involve a small monthly | | | | and they are costing consumers collectively billions of |
| checking fee, but you will save money overall by | | | | dollars each year. There is no reason why anyone |
| paying a small, regular fee to their bank each month | | | | should have to pay these fees when there are banks |
| rather than unpredictable and painful overdraft fees. | | | | that do not charge overdraft fees - even when an |
| No surprises! | | | | overdraft occurs. Once you gain access to a list of no |
| 2. If you write a check or make a debit/credit charge | | | | overdraft fee banks, make sure you select one that |
| that exceeds the amount still in your checking account, | | | | meets the criteria outlined above to ensure the best |
| the bank will cover your payment - just like with a | | | | banking experience possible. |