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Found a simple way to avoid overdraft fees that actually works
I kept getting hit with $35 overdraft fees from my bank (Chase) like every other month, and it was driving me nuts. I tried the usual stuff like checking my balance constantly, but life gets busy you know? Then I stumbled on this trick where I set up a separate savings account (just a basic one with no fees) and linked it as overdraft protection. The bank automatically pulls from savings if my checking goes negative, and it only costs like $10 per transfer instead of $35. I tested it last month when I forgot about a $7.50 subscription charge, and it worked perfectly. Has anyone else tried this or found a better way to dodge those fees?
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hayden46624d ago
Have you tried keeping a $100 buffer in checking? Fixed my overdraft issues completely.
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parker_park824d ago
Wait is this really that big of a deal though? I mean yeah overdraft fees are annoying but $35 every other month is like what $200 a year. That's not nothing but is it really worth all this extra work opening accounts and linking them? Feels like you could just set a reminder on your phone to check your balance once a week and avoid the whole mess. Plus that $10 transfer fee still stings, doesn't it? And what if you overdraft by like $200, then you're paying $10 to borrow that for a day or two. That's a pretty high interest rate if you think about it. I just don't get why people make such a big production out of this stuff when the real answer is just to keep a little buffer in your checking account.
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