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Managing Your Money

Managing Your Money

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Five Ways to Avoid Overdraft Fees

Most overdraft fees are avoidable. The best way to eliminate fees is to manage your account so you don’t overdraw it. Below are some account management tips:

  1. Use direct deposit for your paycheck. You will have access to your paycheck immediately. Ask your employer if they offer this as a benefit.
  2. Keep track of how much money you have in your checking account by keeping your check register up-to-date. Record all checks when you write them and other transactions when you make them. And don’t forget to subtract any fees.
  3. Pay special attention to your electronic transactions. Record your ATM withdrawals and fees, debit card purchases and online payments. Don’t forget about automatic bill payments you may have set up for utilities, insurance or loan payments.
  4. Keep an eye on your account balance. Remember that some checks and automatic payments may not have cleared yet. At Pinnacle, you can check your balance online, by phone or at the ATM 24 hours a day. You can even set up alerts to let you know when you drop below a certain balance. However, keep in mind that those balances will not reflect transactions you authorized that have not yet been processed.
  5. Link your checking account to an overdraft line of credit or savings account. This account will serve as your "protector" account. When there's an insufficient balance in your checking account to pay for any item, funds are automatically transferred in $100 increments to cover your purchases. At Pinnacle, we don't charge you a fee for this service. All you have to do is keep funds available in your other accounts or line of credit.

Questions? Simply contact any Pinnacle office or our Client Service Center at 1.800.264.3613.

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