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Joined 2 years ago
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Cake day: June 11th, 2023

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  • It’s really unfortunate. Most banks and credit unions turn on overdraft protection by default. And many of them make it difficult to turn it off (burying it in online app/site menus, requiring people to call in or go into a branch to deactivate it, etc.). They do this because overdraft fees are a massive source of profit for them.

    But it’s pretty easy for people to get trapped in a vicious cycle of debt due to these fees. Most people don’t know they can turn these off, and some don’t even realize they are in place to begin with.