If you aren’t keeping track of every deposit and debit to your bank account, you are playing financial Russian roulette in the form of an overdraft fee.
And it may not stop with just one non-sufficient funds fee (NSF) for a rejected payment. If you make more several transactions with a negative balance, you could be on the hook for several hundred dollars in fees and penalties.
But you may get lucky. Some banks don’t charge an overdraft fee if the overdrawn amount if $5 or less by the end of the banking day, but do you really want to take that risk? Take a look at this list of banks and their penalties. Is your bank on there?
Financial Institution | NSF Fee (per Bounced Check) | Max. Fees (per Day) | Total Possible Cost (per Day) |
---|---|---|---|
Alliant Credit Union | $28 | No Limit | No Limit |
Ally Bank | $25 | 1 | $25 |
Associated Bank | $35 | 4 | $140 |
Bank of America | $35 | 4 | $140 |
BB&T | $36 | 6 | $216 |
BBVA | $38 ($32 in CA) | 6 | $228 ($192 in CA) |
Chase | $34 | 3 | $102 |
Citibank | $34 | 4 | $136 |
Citizens Bank | $35 | 7 | $245 |
Comerica | Up to $38 | 5 | Up to $190 |
Fifth Third Bank | $37 | 5 | $185 |
HSBC Bank | $35 | 3 | $105 |
Key Bank | $39 | 5 | $195 |
M&T Bank | $38.50 | 5 | $192.50 |
Navy Federal Credit Union | $20 | 3 | $60 |
PNC Bank | $36 | 4 | $144 |
Regions Bank | $36 | 6 | $216 |
Santander Bank | $35 | 6 | $210 |
Sun Trust | $36 | 6 | $216 |
TD Bank | $35 | 5 | $175 |
Union Bank | $33 | 5 | $165 |
USAA | Up to $29 | 3 | $87 |
U.S. Bank | $36 | 4 | $144 |
Wells Fargo | $35 | 3 | $105 |