Confusing overdraft fees cost consumers an estimated $29.5 billion in 2011, and bank customers had to wade through an average of 69 pages to get a full picture of their checking account policies, according to a new report that’s tracking growing consumer bewilderment with overdraft fees.
Overdraft fees shouldn’t happen to you very often. If they do, you’re not keeping an eye on your finances and probably spending more than you earn. But, nearly everyone has been a victim at some point. If you get dinged and you aren’t a frequent offender, call your bank and tell them politely that you’d like to have it reversed. If you’re persistant, they will eventually credit it back to you.
Trainees learning motor mechanism skills at the Kissy Trace Centre in Freetown, Sierra Leone. © Redenius / UN Photo 1980.
What skills do young people need to get decent jobs and better lives? Tell us!