The unfair overdraft bank fees and why you need to avoid them

Unfair Overdraft Bank Fees - Unfair overdraft bank fees, the phrase sends many of us into fits of sputtering rage when we hear we are on the end of this action. We all have been in this situation before; the bank takes your last twenty-five bucks just when you need food, gas, medicine, etc… When you live from paycheck to paycheck overdraft fees are an unfortunate part of life. Still, it’s ironic that the bank demands that you pay x amount of dollars when they know your broke. Well fear not my over drafted brethren, help is now here.

First, why does the bank demand an overdraft fee? Well, it is a fee you have to pay when you don’t the target amount in your checking account. This similar to the insufficient funds fee that banks charge you for a savings account. The amount of the fee varies from bank to bank but the fee is usually the same, about twenty-five bucks.

Now there are aids to help you keep from having to pay these fees by not breaking the rule the banks create. Normally you just create and stick to a budget so you have a set limit of how much you can spend. This looks good on paper, but in real life this is not real solution many people. While a budget is a good idea, some of the fees occur when your, oh about twenty-five cents overdrawn the bank demands that fee. You can get that money back, but in some cases this takes more time and sometimes more money then it is worth.

Again some great guides exist out there that can show you how to get your money back from the ever growing monstrosity that is your bank. If you are fined an overdraft or an insufficient funds fee by a few cents, than some customer complaining can help solve that problem. If you’re fined because you tried to “float” checks, than you are on your own, after all it is you fault. Unfair overdraft bank fees, in short they are a pain in the butt and your wallet. If it’s the banks fault than complain long and loudly, it will save some financial pain later.

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