| Nobody is perfect. And for those operating on a tight | | | | they actually charge you. Your local gas station may |
| budget, this could mean spending more than you | | | | put a $75 hold on your account for $40 of gas. If you |
| actually have in your checking accounts at the | | | | overdrafted because you did not have the $75, some |
| moment. When this happens, your bank charges you a | | | | banks will waive the fees when asked. |
| fee that usually costs much more than the actual | | | | Most banks will not charge overdraft fees on social |
| purchase that caused it. But don't fret. There are ways | | | | security deposits. If you currently receive social |
| to get the bank to overturn these fees. What are the | | | | security benefits and are being charged overdraft |
| rules about these situations, and how can you fight | | | | fees, this may be something to discuss with your bank. |
| overdraft fees? | | | | 5) Negotiate you strong points |
| Here are 7 steps towards getting your overdraft fees | | | | There are situations that may make the bank more |
| removed. | | | | willing to return your overdraft fees; if this is the first |
| 1) Just ask | | | | time you've overdrafted your account, for instance. |
| Human interaction is the most important part of trying | | | | Have you been a loyal customer for a long time? |
| to get overdraft fees refunded. Unlike a computer | | | | Were the purchases very small and insignificant? Point |
| system, it is possible to make a human being | | | | out anything that could make a convincing argument to |
| understand your situation just by talking to them. Try to | | | | your bank representative. |
| avoid impersonal electronic communication. Seeing a | | | | 6) Ask the bank to remove you from their Overdraft |
| bank employee in a physical branch is best, but a | | | | Protection program |
| phone call is better than nothing. Be friendly and polite. | | | | Many banks automatically pay for an item you don't |
| Yelling at someone will make them less likely to hear | | | | have money for, and then charge you a fee. By asking |
| you out. | | | | to opt out of this "Overdraft Protection" program, your |
| 2) Don't wait | | | | debit card will simply be declined when there is not |
| Many banks charge additional fees for each day that | | | | enough money in your account. However, this is not |
| your account remains overdrawn. Address the fees | | | | recommended for people who pay with checks. |
| and get your account back in the black as quickly as | | | | Although the bank can no longer charge you overdraft |
| you can. | | | | fees, most merchants will still charge you a fee for |
| 3) Check for errors | | | | checks that bounce. |
| If the overdraft has happened because your bank | | | | 7) Move your business |
| made an error, they will almost always return the fee. | | | | If you still can't get your fees reversed, pay enough |
| Print out a copy of your bank statement and double | | | | money to get your account balance to zero, and then |
| check the numbers against your own records and | | | | find another bank. A bank that does not treat its |
| receipts. Also check the exact transactions that | | | | customers well will not change its ways unless it loses |
| caused the fees for any errors. Not recording your | | | | enough business first. |
| address correctly or charging a purchase to the wrong | | | | If you've been hit with some unfair overdraft fees, you |
| account are other bank errors that may result in unfair | | | | don't have to just live with them. Go in and talk to your |
| fees. | | | | local bank representative as soon as possible. There |
| 4) Know the acceptable reasons | | | | are quite a few ways to convince them to reverse |
| Believe it or not, there are some grey areas in the | | | | your fees if you know where to look. And if all else |
| bank's overdraft policies. It is not uncommon for certain | | | | fails, try a better bank. |
| vendors to put a temporary hold on more money than | | | | |