What is overdraft protection, and should I use it?

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Got this question about overdraft protection, so I recorded this video summing it up. Is it overdraft protection a good idea? Check out the video to learn my answer.

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Комментарии
Автор

I needed to see this video. The banks convince me that I need protection. Only lately, I figure out that I'm paying them for protection. Having $1000 or $500 or $100 is a better idea. Banks must have made a fortune off of me over my lifetime. I saw your line of credit video as well, and the bank has denied me any payout for disability.They've got me. Thank you for opening my eyes.

meanttobehere
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40 seconds in and I know that I am on the right track! EXACTLY! It is a mini CREDIT CARD debt! Which means they are taking advantages of us more. Thank

TanyaKatherine
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I used my overdraft now and again, won't ever go over £150 though the interest on it is like £1.90 and I can easily pay it back next payday. But I recently cancelled it to try help myself save money better and it's probably for the best

JmanUK
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1000 bucks is alot to keep in an account to not be charged a fee. My bank which I use is only 100. But you have a great point and if more people thought like this the banks wouldn't be getting away with this. Basically in my opinion banks do these fees, and these laws are put into effect because it sll starts with irresponsible people. They figured out the formula. Having irresponsible people as customers benefits them and they will use it to their advantage.

JP-odps
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yesterday I was gonna transfer money from my saving to my checking and it said I wad reaching the limit of my transfer and overdraft protection

shaquantucker
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Thank you :) I needed to hear this information.

gn
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Canadians are more sophisticated than Americans. This is preferable to other eventualities.

fruitarian
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Tell those people who are buying things they don’t need with money they don’t have that they don’t need protection lol

NN-cqvj
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Oh and by the way...I thought you were Jason Statham 😭😂😭

obadiahthepinnacle
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