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Most of the times an overdraft has happened, I often have cash on me that would cover the fee, just not the original transaction.
I have an idea (that will most likely never work). Basically, if one is able to pay the fee within a reasonable timeframe in cash, it doesn't go onto the bank account as a further debit.
Account Holder (AH) needs to make a $325 emergency purchase with a check or debit card; say the overdraft fee would be $25. That amount of cash, they have on hand (say they have $100, but they couldn't make the original purchase in cash for obvious reasons). They know they only have $200 in the account until next paycheck.
AH gets an automated email from bank warning of the overdraft, with an option that if AH can pay the fee in-person at the bank within X days no fee will be applied to the account.
AH is able to pay the fee in person the next business day; so rather than a $150 overdraft that could snowball, they only have the $125 from the purchase that is static.
Overdraft=OD=overdose=both can kill you if you're not careful. Hmmm...
I have an idea (that will most likely never work). Basically, if one is able to pay the fee within a reasonable timeframe in cash, it doesn't go onto the bank account as a further debit.
Account Holder (AH) needs to make a $325 emergency purchase with a check or debit card; say the overdraft fee would be $25. That amount of cash, they have on hand (say they have $100, but they couldn't make the original purchase in cash for obvious reasons). They know they only have $200 in the account until next paycheck.
AH gets an automated email from bank warning of the overdraft, with an option that if AH can pay the fee in-person at the bank within X days no fee will be applied to the account.
AH is able to pay the fee in person the next business day; so rather than a $150 overdraft that could snowball, they only have the $125 from the purchase that is static.
Overdraft=OD=overdose=both can kill you if you're not careful. Hmmm...
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