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07.27.2021 / Lifestyles « Back to all articles

Avoid Paying an Overdraft Fee Ever Again
woman using debit card

Are you tired of constantly paying overdraft fees to your bank? Although having a bank account can come with several advantages and may play a key role in helping you manage your money, overdraft fees can become a financial burden. However, you can get around this problem by finding straightforward solutions to preventing overdraft charges in the first place. If you're frustrated by this issue and want to keep more money in your pocket instead of paying overdraft fees, here's how you can avoid them in the future.

Ask Your Bank to Stop Providing Overdraft Coverage

Did you know banks may be able to stop overdraft coverage altogether? If your bank offers this option, avoiding overdraft fees could be as simple as getting rid of this extra coverage. If you choose this option, any attempts to charge more than what you have in your account may simply result in a declined transaction. Ask your bank if you can customize your digital app to give you a warning when your balance is running low so you can avoid failed transactions if you choose to end overdraft coverage!

Always Keep Money in Your Account

In order to avoid overdrafting your account, it may be helpful to have a cash buffer. Prevent overdrafts by:

• Always keeping a set minimum number of dollars in your account

• Immediately transferring money to your account when you receive notice of an overdraft

• Requesting that your account be linked to another one of your bank accounts, so overdraft charges will be redirected to those funds and you can avoid a fee

Track Your Spending

If your overdraft charges are the result of excessive spending or spending that you don't usually track, you may be able to avoid future fees simply by changing your habits. Before you make a major purchase, check your account to make sure you have enough money in it. Reel in spending and keep a close watch on your bank account by:

• Checking your bank account balances at least once a week

• Budgeting carefully based on how much money you have in your accounts and what you can afford to spend

• Reining in spending towards the end of the month if you know your account may be running low

Having a bank account can be beneficial for your financial life in numerous ways, but paying your bank overdraft charges can add up and become a financial burden. Fortunately, you can avoid those fees by stopping overdraft coverage, always keeping a minimum amount in your account, and keeping a close eye on expenses. Follow these tips, and you could potentially say goodbye to overdraft fees forever!

09.09.2021 / Safety

Use These Tips to Ensure Your Mobile Cheque Cashing Goes Smoothly
COVID-19 has changed the way banking services work for the near future. Due to necessary social distancing measures,…

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07.27.2021 / Lifestyles « Back to all articles

Avoid Paying an Overdraft Fee Ever Again
woman using debit card

Are you tired of constantly paying overdraft fees to your bank? Although having a bank account can come with several advantages and may play a key role in helping you manage your money, overdraft fees can become a financial burden. However, you can get around this problem by finding straightforward solutions to preventing overdraft charges in the first place. If you're frustrated by this issue and want to keep more money in your pocket instead of paying overdraft fees, here's how you can avoid them in the future.

Ask Your Bank to Stop Providing Overdraft Coverage

Did you know banks may be able to stop overdraft coverage altogether? If your bank offers this option, avoiding overdraft fees could be as simple as getting rid of this extra coverage. If you choose this option, any attempts to charge more than what you have in your account may simply result in a declined transaction. Ask your bank if you can customize your digital app to give you a warning when your balance is running low so you can avoid failed transactions if you choose to end overdraft coverage!

Always Keep Money in Your Account

In order to avoid overdrafting your account, it may be helpful to have a cash buffer. Prevent overdrafts by:

• Always keeping a set minimum number of dollars in your account

• Immediately transferring money to your account when you receive notice of an overdraft

• Requesting that your account be linked to another one of your bank accounts, so overdraft charges will be redirected to those funds and you can avoid a fee

Track Your Spending

If your overdraft charges are the result of excessive spending or spending that you don't usually track, you may be able to avoid future fees simply by changing your habits. Before you make a major purchase, check your account to make sure you have enough money in it. Reel in spending and keep a close watch on your bank account by:

• Checking your bank account balances at least once a week

• Budgeting carefully based on how much money you have in your accounts and what you can afford to spend

• Reining in spending towards the end of the month if you know your account may be running low

Having a bank account can be beneficial for your financial life in numerous ways, but paying your bank overdraft charges can add up and become a financial burden. Fortunately, you can avoid those fees by stopping overdraft coverage, always keeping a minimum amount in your account, and keeping a close eye on expenses. Follow these tips, and you could potentially say goodbye to overdraft fees forever!

Need a
Loan?

Loans from $120 to $15,000. Get funded as soon as today!

09.09.2021 / Safety

Use These Tips to Ensure Your Mobile Cheque Cashing Goes Smoothly
COVID-19 has changed the way banking services work for the near future. Due to necessary social distancing measures,…