Overdrawing your checking account results in fees as high as $35 per overdraft. An overdraft occurs when you make a purchase—using a debit card or a check—for more money than your checking account currently has in it. When you do this, your financial institution may chip in the rest of the money required to make the purchase but charge you a fee. Overdrawing your account can result in a pile of fees quickly.
Use your debit card for purchases. If the purchase exceeds the amount of money in your checking account you will overdraw your account. For example, making a $50 purchase with your debit card when your checking account has only $30 may result in an overdraft.
Use your debit card to withdraw money. Withdrawing more money than your checking account holds results in an overdraft.
Write a check for more money than your checking account can supply. If you write a check for $60 and your checking account has only $55 in it, you will overdraw your account. Your financial institution may charge an overdraft fee.
Some debit cards cannot be charged for more than you have in your checking account. Each bank's policy regarding debit cards is different.
Located in Pittsburgh, Chris Miksen has been writing instructional articles on a wide range of topics for online publications since 2007. He currently owns and operates a vending business. Miksen has written a variety of technical and business articles throughout his writing career. He studied journalism at the Community College of Allegheny County.