What are overdraft fees & how are they calculated?

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What are overdraft fees & how are they calculated?

Rounding it up

  • Overdraft fees occur when you make a transaction that is more than the balance in your bank account.

  • Every bank has unique terms regarding overdraft fees; read your agreement closely to know how much and how often you will be charged.

  • There are a few simple steps everyone can take to avoid overdraft fees, including keeping a minimum balance in a bank account and sticking to a budget.

  • It may be time to reevaluate where you bank and move to a no-fee bank

9 min read

Ally Streelman
#overdraft fees#budgeting#minimum balance#auto-pay

Ally Streelman

Ally Streelman is a storyteller whose work spans money, wellness, travel, and more with the chief goal of empowering readers. When she’s not stringing together sentences, you can find her immersed in a new city, cookbook, or novel or encouraging women to take hold of their financial journey.

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#overdraft

#loans

#fees

#budgeting

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