Overdraft and NSF Fees
Have you ever made a purchase or received cash with a debit or check card while the balance in your account was less than the amount of the transaction?
With overdraft protection, your financial institution will allow the transaction to clear. However, this protection comes with a steep cost. Most financial institutions charge a hefty fee each time you overdraw your account, and they can still charge you a non-sufficient funds (NSF) fee if your backup source of funds has a shortage.