My bank had an overdraft loan thing, where you could qualify ahead of time for a $1,000 loan, and pay 16% interest annually if you overdrafted by less than that. That worked out to about $13 for a month, and it would protect you from getting hit with another overdraft right away. They ended that program (but you can back your checking account with your savings account now).
Lots of other banks will reorder your transactions in a day to maximize the number of overdraft fees you pay, even if you set alerts for it, so you get a text as soon as the first one happens.
Most banks are not trying to provide a useful service to you with overdraft protection. (It is still better than the way it used to work)
My bank had an overdraft loan thing, where you could qualify ahead of time for a $1,000 loan, and pay 16% interest annually if you overdrafted by less than that. That worked out to about $13 for a month, and it would protect you from getting hit with another overdraft right away. They ended that program (but you can back your checking account with your savings account now).
Lots of other banks will reorder your transactions in a day to maximize the number of overdraft fees you pay, even if you set alerts for it, so you get a text as soon as the first one happens.
Most banks are not trying to provide a useful service to you with overdraft protection. (It is still better than the way it used to work)