http://www.moneycrashers.com/how-to-avoid-banking-overdraft-fees/ Personal Finance Blog, Your Guide to Financial Fitness Thu, 09 Feb 2012 21:28:00 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.moneycrashers.com/how-to-avoid-banking-overdraft-fees/#comment-13584 Jake Wed, 11 Aug 2010 18:13:32 +0000 http://www.moneycrashers.com/?p=845#comment-13584 The problem I see with changing your overdraft limit to 0 is you're still not being financially responsible. Yes, you won't get charged overdraft fees since you can't overdraw, but it's still careless to blindly buy stuff or withdraw money until you're down to nothing. It's better to keep track of your money to make sure you always have something in your checking account. People need to learn how to budget for the month. The problem I see with changing your overdraft limit to 0 is you’re still not being financially responsible. Yes, you won’t get charged overdraft fees since you can’t overdraw, but it’s still careless to blindly buy stuff or withdraw money until you’re down to nothing. It’s better to keep track of your money to make sure you always have something in your checking account. People need to learn how to budget for the month.

]]> http://www.moneycrashers.com/how-to-avoid-banking-overdraft-fees/#comment-8734 DG Thu, 28 Jan 2010 04:34:38 +0000 http://www.moneycrashers.com/?p=845#comment-8734 good solid advice. one of my friends kept shopping on a trip a few months ago and kept overdrawing. it was ridiculous. I should recommend that she should change her overdraft limit to 0 just as you suggest! good solid advice. one of my friends kept shopping on a trip a few months ago and kept overdrawing. it was ridiculous. I should recommend that she should change her overdraft limit to 0 just as you suggest!

]]> http://www.moneycrashers.com/how-to-avoid-banking-overdraft-fees/#comment-8412 Sean Sat, 23 Jan 2010 05:42:41 +0000 http://www.moneycrashers.com/?p=845#comment-8412 Overdraft is big business for the banks, it will be interesting to see what happens now that the opt-in legislation is going into effect. I didn't realize that ING offered the "auto-loan" as opposed to overdraft, it's certainly innovative and strikes a balance. Overdraft is big business for the banks, it will be interesting to see what happens now that the opt-in legislation is going into effect. I didn’t realize that ING offered the “auto-loan” as opposed to overdraft, it’s certainly innovative and strikes a balance.

]]> http://www.moneycrashers.com/how-to-avoid-banking-overdraft-fees/#comment-7509 Mayra Cedillo Sat, 09 Jan 2010 05:26:56 +0000 http://www.moneycrashers.com/?p=845#comment-7509 My brother's paid the banks over a thousand in overdraft fees. They have used sneaky, awful tricks like listing charges out of order according to dates in order to charge several overdraft fees instead of one. For example if on one day he made three purchase under 10 bucks but still had money in his account that day, but then the next day he went over with one charge, they would post the charges out of order so that the one he went over is posted first and then the three charges of the day prior. This let them charge him 4 38 dollar overdraft fees (a total of 152 bucks) instead of one overdraft fee as it should have been. Banks can be so awful. My brother’s paid the banks over a thousand in overdraft fees. They have used sneaky, awful tricks like listing charges out of order according to dates in order to charge several overdraft fees instead of one. For example if on one day he made three purchase under 10 bucks but still had money in his account that day, but then the next day he went over with one charge, they would post the charges out of order so that the one he went over is posted first and then the three charges of the day prior. This let them charge him 4 38 dollar overdraft fees (a total of 152 bucks) instead of one overdraft fee as it should have been. Banks can be so awful.

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