Understanding Overdraft Protection
What is overdraft protection?
3 types of protection
Line of credit
The cheapest option
How to avoid overdrafts
Pros and cons
- Checks clear and ATM and debit transactions will go through.
- NSF fee avoided if you opt in for overdraft protection.
- You must opt-in for this service from your bank.
- Checking and savings accounts can be linked to save the most on fees.
- Limit the number of fees that can be charged in one day.
- Some online banks offer overdraft protection without fees.
- Without it, you’ll be charged NSF fees if a transaction goes through.
- With it, you could still be charged other overdraft fees.
- Consumers may not know that they can decline overdraft protection and have transactions declined without a fee.
- Fees can add up to more than a purchase.
- Credit line to cover overdrawn amounts will charge interest.
- Transactions may not clear if the backup source is low or empty.
Reclaim Up to $610/Year in Car Insurance
Here’s the thing: your current car insurance company is probably overcharging you. But, who has the time to look around for around a new company?
A website called CarInsurance.net makes it super easy to see if you’re getting the lowest price. All you have to do is enter your ZIP code and your age, and it’ll show you your options.
Using CarInsurance.net, people have saved up to $610 a year.
It takes just a few minutes to see how much CarInsurance.net could put back in your pocket. And the best part? Because we’re driving less, some insurers are slashing prices this month.