CBS News: 6 ways to avoid overdrafts
March 25, 2008 | alternatives, industry | Comments (0)CBS MarketWatch offers 6 tips to avoid overdraft fees.
“If you have been on the receiving end of this practice, you know that a single $5 transaction can trigger a $30 to $35 overdraft fee, while a series of overdraft purchases in a single day can rack up hundreds of dollars in fees. The people most at risk are consumers who routinely have low balances or who don’t monitor their account balances regularly.
This just goes to show why reasonable consumers choose to use payday loans to avoid overdraft fees. Especially considering that the fee for a payday loan is typically $15-$17 per $100.
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