Jonathan Raymond

Banks will fee you to death. If you bounce a check, the bank has a policy to re-post the check three more times to see if it will be paid. If it continues to bounce they charge a $30 overdraft every time. So, one bounced check will rack up $90 for the bank.

American Writer

Matthew Desmond

Payday loans are but one of many financial techniques - from overdraft fees to student loans subsidizing for-profit colleges - specifically designed to pull money from the pockets of the poor. This problem generally goes unrecognized by policy makers.

American Sociologist

Darcey Bussell

I've always been quite conscious of it, though I don't know why. I would never overspend, and I have to know exactly what I've got so that I avoid going into overdraft. I watch my pennies, and I'm quite thrifty.

English Dancer

Taavet Hinrikus

There are so many instances in banking where 'free' simply doesn't mean free, whether it's opaque overdraft charges or credit card providers that are quietly raising interest rates without customers noticing.

Estonian

Elizabeth Warren

Consumers get used to reading and understanding their credit card contracts, their mortgages, their check overdraft agreements, those are good things. That puts power back in the hands of consumers.

American Public Servant

Antoni Porowski

When I was studying at the Neighborhood Playhouse, I would overdraft my bank account and not have enough money to buy groceries. But I also discovered how to cook with very limited resources.

Canadian Actor

Jilly Cooper

The bank told us we ought to sell this house to pay off our overdraft. Riders saved the day. I was so pleased when it got to number one, I went all around the fields crying and crying.

British Author

Janine di Giovanni

No one lives on credit in France because banks don't allow overdrafts and zero percent credit cards do not exist.

American Journalist

Carolyn Maloney

If you ask around, it's pretty easy to find someone who has a bank account overdraft horror story to tell.

American Politician

An overdraft indicates your account balance is negative; the bank covered the excess.

Negative Balance

Banks often charge fees for overdrafts, which can increase the amount you owe.

Additional Fees

Sometimes overdrafts happen by accident, if you're unaware of your account balance.

Accidental Overdraft

An overdraft should be a short-term fix, not a solution for ongoing cash problems.

Temporary Solution

You often need to apply and be approved for an overdraft before you can use the service.

Pre-Authorization Needed

Different banks have different overdraft limits—know yours to avoid unexpected fees.

Limit Varies

An overdraft is borrowed money; the bank expects you to pay it back with interest.

Repayment Expectation

Frequent overdrafts can negatively affect your credit score, hindering future borrowing.

Credit Score Impact

Staying aware of your spending can help you avoid overdraft fees and debt build-up.

Monitor Spending

 when I was working two dead-end, minimum-wage jobs. Every month my wages would just replenish my overdraft. I was exhausted and my life was going nowhere. Like many others before me, I decided sex for money was a better option. Now don't get me wrong --