How Do You Avoid Debit Card Overdraft Fees?
TV commercials show fast-food customers sailing easily through the lines using a debit card to pay for their burgers. The commercials don’t show the customers just as easily piling up checking account overdrafts and fees of $25 to $35. Recently, banks started allowing debit card purchases no matter what a person’s bank balance, often leading to unpleasant surprises. Don’t be fooled by an online statement that shows how much is in your bank account–some transactions may not show up yet. Avoid this situation: You have $100 in your checking account. You write an $80 check to pay your cable bill, you buy your designer coffee for $5 using your debit card, then you use the card for $25 worth of gas. Oops. That could be at least one, possibly two, overdrafts at fees of $25 to $35 each. That’s some expensive coffee. Keep track of what you are spending. By the time your purchases and charges show up on your statement, it’s too late. Save receipts and record every ATM withdrawal, every debit ca
