Tag Archives: Bank Fees

Why Overdraft Protection is a Bad Idea

If you accidentally write a check when there is not enough money in your account to cover it, overdraft protection can kick in to cover the amount and basically save you from a bounced check. But overdraft protection can be a bad idea, especially when you are being charged a bundle for the service. Of course, you never want to bounce a check, but it makes more sense to skip the bank provided overdraft protection, and instead build in your own system of protection. Why? Well, the fees for overdraft protection are quite steep. Usually, your overdraft is covered by … Continue reading →

Do You Read the Fine Print?

Have you opened a new account at the bank lately? Did you receive a pamphlet explaining the rules and terms of your account? Or have you recently received a new pamphlet in one of your statements from your credit card or checking account? Did you read it or did you just file it away or toss it in the garbage? It really is important to read the fine print when it comes to bank accounts and loans. Banks are businesses that are out to make a profit. They do this in many different ways, which include earning interest on your … Continue reading →