Tips To Avoid Overdraft Fees

Overdraft fees can be a huge pain, with the average overdraft fee in the U.S. at $36. The good news is that you can avoid them—and start saving money immediately—by following a few simple steps.

Don’t opt-in to overdraft coverage on your ATM or debit card

The next time you go to the ATM, do not opt-in to overdraft coverage on your debit card. Doing so will allow the bank to charge you a fee for every transaction that puts you over your limit and results in an overdraft. If you don’t opt-in and have no money added to your account, then no overdraft fee will be charged to you (except if they decide not to honor their own rules).

Turn notification settings on for important financial accounts

You should turn notification settings on for important financial accounts, such as your bank account, credit card accounts and mortgage. These notifications can help you avoid overdraft fees.

Here’s how:

  • Go to the app or website of the financial institution that holds your account.
  • Navigate to the “Notification Settings” tab (if they have one). If they don’t have a notification setting tab, go to their “Account Settings” page and find where it says “Email Alerts” or something similar—it should be near the bottom of your list of options.
  • Select which types of alerts you want turned on—for example, if you want texts sent every time there is an activity in your account but not emails (or vice versa), this is where you can choose that preference for yourself!

Pay attention to reminders and alerts

In addition to monitoring your account balance regularly, you should also pay attention to alerts and reminders. For example, if you have a savings account that has a debit card and an overdraft protection line of credit linked to it, make sure both are set up so that the bank will automatically transfer funds between the two accounts when one goes into the red. 

If not, when you go over budget on your debit card and still have money in your savings account (which is often), it could take days for someone from customer service or online banking to manually process a transfer request after which point they could charge you an overdraft fee.

According to SoFi professionals, “You shouldn’t be charged if you accidentally spend more than you have.”

Record all transactions in a check register or mobile app

If you have overdraft protection, it’s important to record all transactions in a check register or mobile app. If not, then you will be charged an overdraft fee every time your account goes into the negative. Even if you don’t have overdraft protection on your account, keeping a record of all transactions will help prevent accidental overspending and ensure that you don’t accidentally spend more than what’s in your account.

Remember, your bank is an important financial resource. As long as you take the right precautions, it can be a valuable asset to any family or individual. The most important thing is to be proactive and know what fees are out there so that you don’t get caught off-guard when they happen!

Also Read About: How To Make Your Investment Portfolio More Ethical

NEC vs. Traditional Infant Formula: Which is Better for your baby?

The first years of nutrition are crucial for children's growth and good health. For decades, parents have complemented breastfeeding with infant formula to reinforce... : corona third wave affect life insurance : corona third wave affect life insurance

How to Profit This NFL Season with Future Bets

An NFL futures bet is wagering on specific outcomes that will happen in the future. For example, you can place a bet before the...

Unblocked games 911 Play Online Games

Unblocked games 911 are and HTML-based games that you can play at work or school. Businesses and educational institutions use firewalls to block...

What is /j3fajlekits? Secrets of This Keyphrase /j3fajlekits

Are you curious about the mysterious keyphrase /j3fajlekits? You're not alone! This enigmatic term has been buzzing around the internet, leaving many people wondering...

How To Get 100k Semrush Traffic To Your Website 2023

Are you struggling to get traffic to your website? Do you dream of hitting the 100K Semrush traffic mark, but have no idea how...

Zinmanga APK Download Latest Version Free Download

Are you a manga fanatic who is always on the lookout for new series to read? Look no further than Zinmanga APK, the latest...

NASDAQ Composite Index (COMP) 2023

Are you considering investing in the stock market? If so, then you've probably come across the NASDAQ Composite Index. This index is a popular...

7 Key Secrets of Healthy Sleep

Sleep is a mysterious phenomenon of great interest to scientists around the world. Just think about it: a person sleeps for a total of...

Jobshost: This Platform is Find Your Dream Job – 2023

Are you tired of scrolling through countless job listings and sending out endless resumes without any luck? Look no further than JobsHost - the...