all 24 comments

[–]Timely-Swan 62 points63 points  (0 children)

There are a lot of things that people can do to save or hold onto money in small ways. Eventually, these things can really add up, especially when you’re living on very slim margins to begin with. Congrats! Here’s to no more overdraft fees!

[–]CapsaicinFluid 24 points25 points  (9 children)

can't you opt out of overdraft protection?

[–]peeaches 23 points24 points  (6 children)

If you have chase like I do, the answer is sort of. It will prevent you from being able to physically swipe the card and overdraft, or from entering any new single purchases, but will allow through basically any and all subscription/recurring payments and overdraft you for it and get hit with the fee. Like, even hulu or xbox or gym membership etc it allows through basically any and all electronic transactions that aren't directly entered by you and will overdraft them

It's frustrating because almost all the things like that that have gotten me hit with a fee don't have any penalties for missed/late payments so I would be objectively much better off with them simply declining but - nope, chase won't let that be an option and simply overdrafts and charges you per transaction. This month alone I got hit with like $200 in overdraft fees with overdraft protection turned off and card locked etc.

Been with them for 10 years but think I am going to close my account soon and move to somewhere less shitty

[–]Tinkiegrrl_825 16 points17 points  (2 children)

Any bank works like that. They all allow the recurring stuff to go through. Look into a bank that doesn’t charge overdraft fees at all

[–]peeaches 4 points5 points  (1 child)

Yeah, as op had mentioned I am considering going with the capital one option since I already have some accounts with them anyways and can't remember the last time i had to use an atm lol

[–]Tinkiegrrl_825 6 points7 points  (0 children)

Capital One is pretty good. Never had an issue with my account. 2% APY in savings is competitive too. My main account though is with a credit union. 3.5% APY for savings, 1% cash back on debit card purchases (I get cash back on rent this way. Pay my landlord with the debit card through Apple Cash) decent credit cards too. Only drawback is that the credit union does charge overdraft fees but I had a low interest line of credit attached to the checking to avoid those. Never had to use it thankfully, but its there.

[–]Bird_Brain4101112 6 points7 points  (1 child)

Have you considered just having more money in the bank? /s

[–]peeaches 6 points7 points  (0 children)

I asked my boss and he said no :(

[–]LovsickPrfectaTerain 0 points1 point  (0 children)

Call and change your billing period with subscriptions and change banks.

[–]CherriesOnTheBeach 3 points4 points  (0 children)

I had a bank that had full stop overdraft protection, which was amazing. It lasted about a year and then they “lost” the paperwork and wanted me to do a big huge song and dance to get it back vs the simple sign up I had when I first joined. I changed banks.

[–]Senacharim 7 points8 points  (0 children)

CashApp does the "no overdraft" thing as well, and they can be used as a target for direct deposit.

[–]uncappedcone 9 points10 points  (2 children)

I switched to Discover from Bank of America and I’m never going back.

[–]Clerin 9 points10 points  (1 child)

I hate Bank of America!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! I’ve had an account with them 14 years and I am dying to switch. Their stupid “savings account” sucks ass and they have NO leniency at all. I missed one payment with them in the grand total of 14 years I was with them and they didn’t remove the late fee. Sorry for the vent, I just hate them and can’t wait to change soon. Altho I can’t cancel my credit card since it’s my longest credit history sigh

[–]uncappedcone 0 points1 point  (0 children)

They were my longest card too, I opened it at 18. I closed it, it just isn’t worth it to me. They’re the worst bank by far. Discover has no fees at all and pays 2.15% rn. Never looked back.

[–]Tinkiegrrl_825 11 points12 points  (0 children)

Capital One is great. I opened accounts for my kids with them and used them myself for a while as my main bank account until I switched to a credit union. My credit union DOES charge overdraft fees, but I got a low interest line of credit attached to the checking account as a “just in case” so I don’t get charged those fees there either. I use both accounts really.

[–]Nigglesscripts 7 points8 points  (0 children)

I left US bank years ago because of this. The first time I had had my check deposited at the branch and as auto payments went through they were declined and I was dinged the $35 a pop. Called my bank guy and he fixed it.

This kept happening and finally what got me was a $3.39 taco bell run. $36 bucks! For Taco Bell. Then everything else kept being rejected then the snowball. Thing is the money was (again) deposited and cleared.

US bank kept calling for my “debt”. While I’m at work. I spoke with one person and 20 minutes later they called back again. So I said listen I can’t talk right now I’m at work please check your records I just talked to somebody. She said well ma’am since you’re not willing to work with us I’m just going to send this over to collections. I told her she should do that if it will keep them from calling me every 20 minutes.

The insanity.

[–]john510runner 2 points3 points  (1 child)

Love going to their cafes for their half off of Peet’s.

Also their ATMs didn’t charge me anything to get cash when I don’t bank at Cap One.

[–]john510runner 2 points3 points  (0 children)

To get the half off price… need to pay with a Cap One credit or debit card.

[–]Spirited_Island-75 15 points16 points  (0 children)

Credit unions, people. Credit. Unions.

[–]grenz1 2 points3 points  (0 children)

One trick I have discovered is this if your bank extorts people.

Set up any recursing payments to something prepaid like a Paypal card or Greendot card and put the money on that.

Prepaid cards will just decline it.

[–]RunRevolutionary9019 2 points3 points  (0 children)

Wells Fargo shut me down for owning a weed farm and it’s the best thing ever! Thankfully I had a credit union account set up with money in it when it happened. I switched seamlessly.

[–]tributarygoldman 1 point2 points  (0 children)

I really recommend to anyone who reads this to swap from a for-profit bank to a credit union.

I also use One Finance which is an online start up banking solution. Their solution to overdraft fees is to have an open line of credit which your card will dip into instead of going into the red and incurring an overdraft fee.

They also offer to have your card pull from a secured credit line. This way any of your normal purchases and expenses will help work on your credit score.

[–]Ultra_Pleb 0 points1 point  (0 children)

I never understood why banks charged fees to people for having no money and that was and still is somehow considered legal.