Comments on: New Ways to Avoid Bank Overdraft Fees

By: Samson Smith

Samson Smith — Thu, 01 Jan 1970 00:00:00 +0000

Great post, according to me go cash only is the perfect way.

By: Money

Money — Thu, 01 Jan 1970 00:00:00 +0000

I think everyone should immediately opt out of the overdraft program. Paying up to $40 a day for being overdrawn by a small amount is just ridiculous.

By: Jason @ One Money Design

Jason @ One Money Design — Thu, 01 Jan 1970 00:00:00 +0000

While good cash flow management is the best way to go to avoid the overdraft, we all make mistakes. I’m in favor of stopping one at the register in case of overspending. As an extra measure of safety, I like the notifcations option.

By: Jesse

Jesse — Thu, 01 Jan 1970 00:00:00 +0000

Honestly I just track my spending and keep a mental tab of how much is in my account. I have never overdrafted in any way. I just know how much I have to spend, and then spend less than that..

By: Vas

Vas — Thu, 01 Jan 1970 00:00:00 +0000

Alerts is a good one

By: Peter Luke

Peter Luke — Thu, 01 Jan 1970 00:00:00 +0000

From the options you have mentioned, I think that creating alerts is a smarter move. This would save us from some awkward situations especially when we lose track of or balance. Discreet too.

By: Justin Bufkin

Justin Bufkin — Thu, 01 Jan 1970 00:00:00 +0000

I have a strategy that has always helped me avoid overdrafts and/or protection fees. Try placing $1000 (or whatever suits your situation) in your checking account. Allow that amount to become your checking account “floor”. Another words, when your account hits 1000 you are at “0″. Psychologically it takes a little getting used to but it has allowed me the convenience of never having to worry about these issues. There may be a valid argument that I could be generating interest elsewhere with that money ,but I enjoy the peace of mind. Hope this helps someone!