Are You Paying Chase’s Overdraft Charges Each Month?
Chase’s overdraft charges can really add up fast. While of course they have every right to charge you overdraft charges – you signed an agreement when you opened your checking account with them – it can feel like you are paying through the nose.
If you think about it, just one overdraft charge every month at $35 per charge is $420 per year. That really adds up fast, especially in today’s world when most people don’t have a lot of extra cash lying around. Big banks like overdraft protection programs because it pads their pockets with extra income. In fact, U.S. banks make over $25 billion in overdraft fee charges alone each year. Overdraft protection programs have become big business for banks.
Pay a big bank’s overdraft charges, like Chase’s overdraft charges, adds up quickly. And, an overdraft charge must be paid even if you overdraw the account by a few dollars. The best alternatives:
1. Always keep some money in your account (but, hey, if you could do that, you wouldn’t be reading this article)
2. Switch to a bank that does not charge you overdraft fees. You can find one here: http://www.escape-overdraft-fees.com/.
These banks will NEVER charge you an overdraft fee – even if you overdraw your account. Now, that’s service! You can find out more about these banks at: http://www.squidoo.com/banks-without-overdraft-fees.
