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Money Talks News: 10 of the World’s Most Insulting Fees and How to Beat Them

Banks

7. Overdraft fees: If you overdraw your account and the bank uses its money to cover your negative balance, it deserves to be compensated. But how much? According to this article at CNBC, overdraft fees average from $30 to $34 nationwide. Charging a $34 fee for a one-week loan equates to an annual rate of 5,000 percent.

Workaround: Link your savings to your checking account for overdraft protection. This might result in a transfer fee, but it will be lower than an overdraft fee.

(iStock)

More from Money Talks News:
7 Ways to Radically Reduce Your Restaurant Checks
10 Money Mistakes That Can Ruin a Marriage
21 Things You Should Never Pay For



The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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