
Back to learn
Is there a cap on overdraft fees? How are they determined?
Rounding it up
Overdraft fees are, in essence, very expensive loans; consumers are able to spend slightly more than the money in their account for a fee.
The government does not cap overdraft fees and instead, relies on the banks to remain competitive and cap themselves.
Proper budgeting, shopping around, and linking to other accounts can help you avoid overdraft fees.
There are products, like Cover, that offer a more affordable alternative to overdraft protection.


Dan Bucherer
Dan is a runner and writer living in the Washington, D.C. area, where he currently works for a financial services trade association as the Communications Director.
Recent Articles
What effects do low interest rates have on the economy?
Should your spending change when interest rates rise?
Which assets do well with rising interest rates?
How do interest rates impact the stock market?
Why Instant Pay is becoming more popular during inflation
What are the pros and cons of inflation for consumers?
Related articles

What are overdraft fees & how are they calculated?
9 mins
Ally StreelmanIf you’ve been charged an overdraft fee on your account, we’ll help you figure out why and how to avoid it next time.
What are overdraft fees & how are they calculated?
9 mins
Ally Streelman
If you’ve been charged an overdraft fee on your account, we’ll help you figure out why and how to avoid it next time.
#overdraft fees
#budgeting
#minimum balance
#auto-pay

Why do some banks charge monthly fees?
8 mins
Jake VictorFed up with the big banks extorting you with their “bank fees?” Here's how you can escape them and enjoy the money you earn
Why do some banks charge monthly fees?
8 mins
Jake Victor
Fed up with the big banks extorting you with their “bank fees?” Here's how you can escape them and enjoy the money you earn
#bank fees
#transparency
#overdraft

Do I need to balance my chequebook?
6 mins
Dan BuchererYou don’t need to sit down with piles of receipts and a paper transaction register to balance your chequebook. Read on to learn what we mean.
Do I need to balance my chequebook?
6 mins
Dan Bucherer
You don’t need to sit down with piles of receipts and a paper transaction register to balance your chequebook. Read on to learn what we mean.
#chequebook
#balancing
#budgeting

How to negotiate a raise?
7 mins
Ryan SeveranceHow much are you worth? Here’s how to successfully negotiate a raise with your boss.
How to negotiate a raise?
7 mins
Ryan Severance
How much are you worth? Here’s how to successfully negotiate a raise with your boss.
#getting a raise
#budgeting
#salaries
#negotiating a raise

Are overdraft fees predatory?
6 mins
Dan BuchererDon’t want the embarrassment of being declined at the register? Fair enough, but there’s still a price to pay.
Are overdraft fees predatory?
6 mins
Dan Bucherer
Don’t want the embarrassment of being declined at the register? Fair enough, but there’s still a price to pay.
#Overdraft
# debt
#budgeting
#bank overdraft

Is gaming getting cheaper or more expensive?
7 mins
Jake VictorAre you new to gaming or trying to stock up on new games? See how you can get the best deals and save your money.
Is gaming getting cheaper or more expensive?
7 mins
Jake Victor
Are you new to gaming or trying to stock up on new games? See how you can get the best deals and save your money.
#Cost of video games
#affordable video games
#budgeting
#cash back