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Down With Overdraft Fees!: April 20,2010
$ TIP OF THE DAY: Down with overdraft fees! President O. has enacted a new law whereby banks MUST now OPENLY give you the choice of overdraft protection when you open a new account. Choose NO for both new and existing accounts!
Why?
Choosing no simply means you’ll go back to the old days. Remember? (cue dream sequence music) Way-back-when, if you didn’t have the funds available your transaction would simply be denied vs continually swiping and running up a humongous overdraft bill.
Have you ever paid $35 for overdrafting $5?! I have and it’s enough to make you scream! Did you know you’ve always had a choice with overdraft protection? It’s one of the bank’s greatest moneymakers so they automatically enrolled people for their ‘convenience’.
Now that you know; Choose no when you open a new account and call up your current bank and drop the overdraft protection option on your old accounts (unless you want it) today!-The Budgetnista
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