How To Guide For: What You Need To Know About Debit Card Overdraft Fees

An Overdraft fee is a fee charged when a withdrawal from an individual's bank account exceeds the available balance. The bank charges this fee to cover the cost of the transaction. One overdraft can result in multiple fees, if you keep using that overdrawn account for days.

You can avoid overdraft fees by monitoring your account balances by making sure if you purchase something you have the available funds to cover the transaction. You should also check with your banking institution to make sure you don't opt in to an overdraft program. You also want to try and link to a second account (meaning link your checking to a savings account).

Overdraft fees will vary depending on the banking institution. Check with your bank to find out what their overdraft policy is.

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