the Price of Overdraft Fees

My checking account at my bank offers free overdraft protection but there is a $20 fee for each transaction that goes into overdraft. If you charge anywhere from $1 - $500 you are protected but you incur the $20 fee each time a transaction posts.

This service is helpful although I would like it better if they could charge one fee per day instead of per each transaction. I had encountered some issues last month with a 3rd parties billing service that cause several transactions to overdraw in error and I was charged $60 in overdraft fees plus the cost of the transactions for three separate transactions made on the same day. I called the bank and due to the miss understanding they were able to waive one of these fees as a courtesy which was very helpful to me.

Find out what your bank's overdraft policy is and what their fees are. Call your bank if an issue arises to see if they can help you with crediting an overdraft fee if applicable. Always make sure you have enough money in your account to avoid overdraft and fees. Use overdraft only as a last option in an emergency type situation.