85
      Wednesday
      88 / 69
      Thursday
      88 / 73
      Friday
      80 / 70

      Small Purchases Triggering Overdraft Fees

      You may want to reconsider using overdraft protection at your bank.

      Even the smallest debit card purchases are costing customers big fees.

      The Consumer Financial Protection Bureau's latest study found that most purchases that trigger overdraft protection are less than $24.

      The fees for using the service average about $34.

      Most consumers repay the funds within three days, so the fee translates to an APR of 17%.

      component-story-more_media_horiz-v1-01
      FOLLOW US ON TWITTER