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How To Avoid Being Charged Overdraft Fees

Watch more How to Use the Bank Wisely videos: Subscribe to Howcast's YouTube Channel - Follow these tips to keep more in your wallet by avoiding overdraft fees. Howcast uploads the highest quality how-to videos daily! Be sure to check out our playlists for guides that interest you: Subscribe to Howcast's other YouTube Channels: Howcast Health Channel - Howcast Video Games Channel - Howcast Tech Channel - Howcast Food Channel - Howcast Arts & Recreation Channel - Howcast Sports & Fitness Channel - Howcast Personal Care & Style Channel - Howcast empowers people with engaging, useful how-to information wherever, whenever they need to know how. Emphasizing high-quality instructional videos, Howcast brings you experts who provide accurate information in easy-to-follow tutorials on everything from makeup, hairstyling, nail art design, and soccer to parkour, skateboarding, dancing, kissing, and much, much more. Step 1: Choose the right bank Choose a bank or credit union that provides their customers with overdraft protection. Tip Realize that banks and credit unions are competing for your business, so choose carefully. Step 2: Link checking and savings Sign up for an overdraft protection plan that links your checking account to your savings account or a credit card. Step 3: Check account balance Check your account balance frequently and keep track of your deposits and withdrawals in your checkbook register. Tip Don't forget about automatic electronic payments you may have set up with utilities, loans, health clubs, or other institutions. Step 4: Get alerts Have your bank e-mail or text balance alerts to your computer or phone to keep you informed of your balance. Step 5: Keep extra money Whenever possible, keep some extra money in your account to allow for mistakes and avoid overdraft fees. Step 6: Review statements Review your bank statements each month to see what checks or transactions have or have not cleared. Step 7: Opt out of protection plans Opt out of protection plans so that your debit card will be declined if there isn't enough money in your account to cover the transaction. It'll be embarrassing, but a little embarrassment is better than paying $35.00 for a cup of coffee. Did You Know? According to the Center for Responsible Lending, debit-card overdrafts are the single largest source of overdraft fees.
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