Prevent Overdraft Fees by Managing Your Accounts

In our busy life schedule, there are many chances to lose the track of checking your account transactions. But, piling up your overdraft fees is riskier, especially if you are living paycheck to paycheck.

Regardless of bank regulation changes in 2010, which stopped banks from involuntarily enrolling customers in overdraft protection programs, you could be still slashed with overdraft fees if you choose into your bank’s overdraft service or have wrote a check which don’t have sufficient funds in a checking account. And those fees make billions for banks, according to Moebs Services, a financial research firm.

It is not the depositors who willingly pay overdraft fees, as it’s a one’s fault. However, even if you blame yourself, you don’t have to suffer with those costly fees.

Check out the below approaches.

1. Remain Polite and Patient

If you request to have an overdraft fee waived off, you might be shot down. So don’t lose the hope. Despite of the obstacle that your bank puts up on your way, denying your request for a waiver, move on with kindness. No one likes to deal with a customer who yells at them; have a pleasant talk with the associate and remain cool throughout the transaction.

2. Focus on How Great You Are

If this might be your first offense, or if it has been few days since your last overdraft incident, show up your good customer report card. Explain the associate that it was an accident and show them your excellent record of accomplishment. Have you never let your account slip into the negative before? Is your paycheck directly deposited into the account? If your answer is yes, then you can strengthen your defense by asking for a good faith waiver.
A response similar to your situation might help you: “I’ve been a loyal customer for more than 10 years and even I have opened a number of accounts with your bank because your services treated right. However, I really would like this overdraft fee waived. Could you please help me out?” If the bank employee refuses to waiver your charges, ask for a valid reason, if you are not convinced, seek further assistance, until the matter is resolved.

3. Make an Appearance

Visit the bank personally and speak to the representative about how to get overdraft fees waived. Use the key one-on-one approach, which might help you.

4. Opt Out

The best defense against your overdraft fee is to choose overdraft protection for checking accounts. This helps your overdraft fees not to loom over your head for sure.
Well, bank overdrafts are as expensive as a payday loans!