Watch out for overdraft fees

Daniel Gutierrez

Watch out for overdraft fees

CREATED Jun. 14, 2013

Keep a close eye on your bank account balance, in order to avoid those overdraft fees.

Many banks thses days cover charges to your debit card, even if you don't have enough money to cover it. But then they tack on a fee of sometimes up to $35.
According to a new report from the Consumer Financial Protection Bureau, U.S. banks bring in nearly $30 billion in fees every year from overdraft charges. And overdraft fees can quickly add up, with some banks allowing as many as 12 overdraft charges in a single day.