the Price of Overdraft Fees

In March, we used our debit card to purchase airline tickets - three hours before my paycheck was scheduled to be deposited into our bank account. When we went to the bank the next day, the teller informed us that we had an overdraft and would be required to pay $35. If we wanted to open a credit card attached to the account, the amount would be $20.

My husband was very clear with the bank that they had not indicated pending withdrawals would be considered overdrafts. After a heated discussion, and the near-decision to take all of our savings and checking funds (a reasonably considerable amount)from the bank at once, the banker decided to talk with her boss. They told us that they "waived" the fee - later we found out that there actually was no fee if the amount was deposited within 72 hours. We felt they were just trying to pressure us into getting a credit card.

1. w exactly what fees your bank charges for overdrafts before you experience them. In addition, be sure that you know exactly when the bank will consider you to be overdrawn (by a pending transaction, or by one that has already occurred.)

2. If you have a conflict with the teller, don't waste your time trying to resolve it by talking with them. Usually they have no clue about how to resolve it, and they may not be able to accurately tell you about your account anyway. Talk to at least the teller's supervisor unless you are really bent on wasting your own time and energy.

3. Beware of hidden fees that steal your money.