Are OverDraft Fees Over Rated?

It seems most adults with bank accounts are hit daily with overdraft fees; living beyond their means and lacking the basic funds without realizing what it is costing them. We are the instant gratification society and the bank fees are showing us up.

It used to be that you could make a purchase with your debit card and get the necessary funds in time. But now, funds are taken from your account at the time of purchase. And if you don’t have the funds at the time of purchase, you may unexpectedly be charged an overdraft  fee, even though it may not show up on your bank statement. And it usually shows up on your bank statement several days later.

There are many options to combat overdraft fees. Many people are not aware that they can have the overdraft fee service removed. This will mean, when attempting a purchase if the funds are not in the bank, your card will be denied, but you want have to deal with an overdraft fee and it enforce upon you the important of controlling and being aware of your spending.

Some have found it advantageous to deal with a smaller banking institution where overdraft fees are less or none at all. And it seems smaller banking institutions are more willing to work with the customers in removing overdraft fees as well.

Overdraft fees seems to be increasing, affecting families incomes and lifestyle. In these economic times, we need all the many we bring home. We don’t want to see it fly away on overdraft fees.