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How to get an overdraft fee refunded

Overdraft fee refund tips

While it is important for you to keep a close eye on the balance in your checking account, it can become impossible to check it every day. As a result, there may come a time when you do not have enough money in your checking account to cover a check or a bank draft. In this situation, the bank may charge you an overdraft fee. What is an overdraft fee, and how can you get it refunded? Learn more about how to maximize your chances of getting refund overdraft fees.

What is an overdraft fee?

An overdraft fee is one of many fees that the bank could charge you if you don’t closely monitor the balance in your bank account. If you write a check or have a bank draft that exceeds the limit in your checking account, the bank may have to automatically move money from your savings account to cover the difference.

When this happens, you have overdrafted your checking account, and the bank may charge you an overdraft fee. The size of that fee can vary depending on the type of account you have and the bank you are with.

Call the bank to get an overdraft fee refunded

If you are charged an overdraft fee, the first thing you should do is call the bank. Do not send an email, and do not try to use a live chat option.

Alternatively, you could go to the bank in person. However, it can be more convenient for you to call the bank instead (and safer too during the COVID-19 pandemic). You need to show you are taking the time and effort to contact the bank to explain what happened. The more effort you put in, the more likely you are to get your money back.

Looking for more financial help? Check out this guide to rebuilding credit.

Point to the evidence

When you talk to the bank, do everything you can to be courteous. Avoid yelling at the person on the other end of the phone, and do not make any threats.

Show the bank how long you have been with them. Explain to them that you have been a good customer and haven’t violated your contract or had to overdraft your checking account in a long time.

Be honest about why you had an overdraft and explain to the bank that you will not do this in the future. If you follow these tips, you can maximize your chances of getting a refund.

Save your money and avoid paying overdraft fees

These are a few of the most important tips you should keep in mind if you want to save your money and avoid paying bank fees, including an overdraft fee. Ultimately, the best way to deal with an overdraft fee is to avoid putting yourself in that kind of jeopardy.

Check your bank account balance from time to time and try not to spend money you do not have. In the event you are charged an overdraft fee, make sure you call the bank and explain what happened. As long as you don’t have to do this too often, you should get your fee refunded.

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