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Mom Confessions Mom Confessions

How to stop getting bank overdraft fees (no, seriously)

Anonymous
Posted by Anonymous
  • 101 Replies
1 mom liked this
It has become apparent to me that I'm not the only broke ass bitch in this group. So I'm here to impart some wisdom which has saved me hundreds of dollars.

For a long time, DH and I were in this nasty cycle of getting overdrawn every damn week. Then Thursday would come, the fridge would be empty, and I'd go float a check. No gas money to get to work? Go over-write for $25 an float that bitch. It always bit us in the ass, but for a time that was the only way we could get by. Every week we were paying $100-300++ in negative balances (we had some seriously good overdraft protection).

Then we broke the cycle. We said screw it. The bank closed our account and we paid what w could afford to them until it was paid off.

We now use the (insert name of the largest and crappiest retailer in the US) American Express prepay debit cards. No overdraft fees!!

And now Kroger has an awesome Visa prepay card where you can earn fuel points for every dollar you spend, even on paying bills. I'm stoked because not everywhere takes Amex. Especially paying bills online/phone.

So there you have it. I don't advise closing your bank account if you can avoid it, but you can definitely stop the cycle without giving up the convenience of plastic.
Posted by Anonymous on Oct. 19, 2013 at 10:30 PM
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Replies (1-10):
quickbooksworm
by Ruby Member on Oct. 19, 2013 at 10:32 PM
2 moms liked this
I have a real bank account and opted out of overdraft protection. Problem solved.
tiniowien
by Gold Member on Oct. 19, 2013 at 10:34 PM

I have the blue bird as well as the checks they have, I also keep my prepaid visa for those that don't take American Express 

Anonymous
by Anonymous - Original Poster on Oct. 19, 2013 at 10:34 PM
How does that solve anything? You can still write/float bad checks. If anything it's worse because you pay two separate bank fees.


Quoting quickbooksworm:

I have a real bank account and opted out of overdraft protection. Problem solved.

Anonymous
by Anonymous on Oct. 19, 2013 at 10:35 PM
9 moms liked this
How is that any different from just being responsible and not spending money you don't have?
steffielou_who
by on Oct. 19, 2013 at 10:36 PM

So did DH and I.. My bank doesn't allowe charges to go through if we have $0 in the bank and we don't have checks so we only use the debit card!


Quoting quickbooksworm:

I have a real bank account and opted out of overdraft protection. Problem solved.



other_mother
by Gold Member on Oct. 19, 2013 at 10:36 PM
9 moms liked this

Don't spend money you don't have?

That works for us.

The_Doodle
by Platinum Member on Oct. 19, 2013 at 10:36 PM

*shrug* I just turned off overdraft protection and I don't write checks.

iwilliams76
by Irene on Oct. 19, 2013 at 10:36 PM

 


Quoting quickbooksworm:

I have a real bank account and opted out of overdraft protection. Problem solved.


 Same here.

Anonymous
by Anonymous on Oct. 19, 2013 at 10:38 PM

I've never had that problem. I write down everything that I spend and have a cushion amount in there just in case.

Anonymous
by Anonymous - Original Poster on Oct. 19, 2013 at 10:38 PM
For the same reason half this country is overweight/obese: lack of self control. Remove the problem altogether and voila. Problem solved.


Quoting Anonymous:

How is that any different from just being responsible and not spending money you don't have?

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