Monday, March 06, 2017

bank statement

  • ask ur employer to direct deposit ur paycheck into ur bank account
  • check with ur bank to see if ur account has free bounced-check protection or courtesy overdraft protection, if bank say yes, u need to tell bank that u want to opt out of this coverage and have bank send u a written confirmation
  • u have to pay an annual fee of $ 10 to $ 50 to have the bank take money out of ur saving account (or off ur credit card) when u are about to bounce a check
  • with the bounced-check protection, the bank coughs up their own money to cover ur checks, for this bit of financial chivalry, u get hit with a fee that is typically $ 25 per check
  • there also can be additional charge of about $ 3 per day, until u pay back the bank for the amount they covered
  • to look for a better deal, shop around with banks and credit unions; u can join a credit union simply by knowing someone who is a member, credit unions are nonprofits and thus tend to offer low interest rates and fees on their financial products,

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