learn what other users had to say about

the Price of Overdraft Fees

Price 
Location 
Submitted by  
Description
$ 39
Mar 2008
North Brunswick,NJ
Excessive fees for overdrafting your account  more... close row
$ 35
Mar 2008
Avon Ohio
Pressure to get a credit card  more... close row
$ 33
Apr 2008
Wichita Falls, Texas
Overdrafting up to $400  more... close row
$ 36
Feb 2008
Kalispell, Montana
Overdraft fee increases per day  more... close row
$ 35
Apr 2008
Ann Arbor, Michigan
Overdraft fees really add up  more... close row
$ 32
Feb 2008
Indianapolis, Indiana
Fair overdraft fees avoids returned check fee  more... close row
$ 15
Apr 2008
Baltimore, MD
Overdraft fees lower than other banks  more... close row
$ 29
Apr 2008
East Lansing, Michigan
Overdraft protection is better than all the fees  more... close row
$ 20
Feb 2008
Kansas City, MO
Disputing an overdraft fee can be difficult  more... close row
$ 34
Apr 2008
London, KY
Bank caused overdraft by paying bills early  more... close row
$ 22
Apr 2008
New York, NY
Overdraft fee for bounced check  more... close row
$ 30
Mar 2008
Hutchinson, KS
Automatic bill pay and donuts  more... close row
$ 25
Jan 2008
Phoenix, AZ
Overdraft protection for delayed eft  more... close row

Description of service

Not much to say about overdraft protection. For a fee a bank will temporarily cover withdrawing more money than is in the account. This affords the bank's customers the ability to avoid the hassle of having a check returned to a creditor or retailer for insufficient funds. Of course, multiple instances result in multiple fees.


Review of Service

At the beginning of the year, an electronically deposited paycheck I expected to receive didn't clear by the usual date and about a dozen payments I had to make: credit card, lease, car loan, student loan, etc., plus groceries and other niceties and necessities, and I got tagged with some $300 in overdraft fees.

I called the bank to straighten it out, noted I'd been a customer for over a decade and hadn't had an overdraft in over 7 years, and that the paycheck has been there on the expected date for years before. The extremely polite young woman I spoke to waved the fees.


Tips

Yeah, this isn't a service anyone wants to have to use, and while keeping a reasonably large positive bank balance is a good buffer against it, it isn't always possible. When looking for a bank, ask whether multiple instances in a short time period will raise the cost of each overdraft fee, and ask about the process of contesting the fees.


$ 33
Mar 2008
Cashiers, NC
Likening overdraft protection to usury  more... close row
$ 0
Apr 2008
Mableton, GA
Overdraft fee waived once a year  more... close row
$ 27
Apr 2008
Lebanon, OR
Overdraft fee is charged for each transaction  more... close row
$ 39
Mar 2008
Lincolnton, NC
Overdraft fees prevent returned check fees  more... close row
$ 20
Mar 2008
sacramento, ca
Overdraft fees are per transaction instead of per day  more... close row
$ 35
Apr 2008
North Augusta, SC
Standard fee for overdrafting your account  more... close row
$ 35
Jan 2008
Bellmawr, NJ
Surprise overdraft fee  more... close row
$ 35
Feb 2008
Ashland, Ky
No Overdraft Protection From Savings Account  more... close row
$ 25
Feb 2008
Amarillo, TX
Overdraft fee charged because of not balancing checkbook  more... close row
$ 35
Jun 2007
Alameda, CA
I let my account become overdrawn  more... close row
$ 90
Jan 2008
Mount Pleasant, MI
Automatically charged fees  more... close row