Learn about the financial consequences of overdrawing your checking account and discover strategies to avoid costly overdraft fees and account closures.

Banks are making billions of dollars annually from overdraft fees, with Chase alone earning $1 billion last year.Wells Fargo and Navy Federal Credit Union are also cashing in, reporting $1 billion and ...

An overdraft occurs when you write a check or initiate a debit card purchase, and your account doesn’t have enough money to cover the transaction. The bank will cover the difference to process the ...