the Price of Overdraft Protection

Our local bank is one of the highest in the state for overdraft check return fees. They not only charge for the check to go through the first time, they also charge if it goes through the second time. So the check goes through, not enough money in the account. The bank then charges a $19.00 service fee for the check going through the first time. The check then goes through a second time so many days later. The second time it goes through, it again receives another $19.00 overdraft fee. Then the check gets returned to the business and the business contacts you to pay the funds or it will go to a collection agency and legal action will be taken. The bank then charges a $19.00 return check fee to have the check returned to the place of business. And then they will continue to charge the $19.00 overdraft fees even after the check has been returned.

In my opinion, overdraft fees and return check fees are a way for the bank to make even more money off of you, when you don't have the money in the first place. The bank we use, we ended up calling and explaining that it was a bit unfair that the check was returned and the bank still charged for the overdraft fee when it came through. If it was returned, how can they charge for a service when the check went back. They were nice enough to take away the overdraft fee when the check got returned.

I would make sure that you have money in your account before you go write any checks at all. And make sure that you don't write any checks when people promise to mail you a check and then don't for a week. Never write checks unless you have the money, otherwise you are just goin to bury yourself deeper in debt.