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A teller in my bank told me I should sign up for overdraft protection. I had bounced check once before, but just once. Why should I sign up?

Banks maker money covering bounced checks because they get to charge you a big fee to do so. This is a form of overdraft protection more specifically courtesy overdraft protection because you don’t choose to use it, the bank simply adds the feature to your account. Check with your bank to see if your costs would be lower if you actually enrolled in their program. An overdraft protection service either ties in a savings account or even a credit card to pay for the over drawn check amount or the bank provides a credit line that covers the amount of the check until you pay back the credit line. If you bounce one check a month and it costs you $35, it might be worth signing up for a program that costs less.

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