Money Message — 3 Easy ways to avoid overdraft fees

  • by User Not Found
  • Jan 18, 2017, 07:40 AM

Running a business comes with a lot of challenges, but keeping your checking account in the positive doesn’t have to be.  There are more options today for avoiding an overdraft fee then you may think.

These 3 methods can help you keep your finances on track and minimize overdraft fees.

1. Enroll in Online Banking: Enrolling in online banking can be very helpful.  It allows you to keep a close eye on the debits and credits coming in and out of your account 24/7.  It helps because you don’t have to wait for a monthly statement, and best of all it’s free.

2. Setup Email Alerts: Most banks now offer the ability to setup email alerts through their online banking.  It is a great way to let you know that your balance is getting low.  An email alert can be sent to you if your checking account balance falls below a specific dollar amount warning you to make a deposit or transfer funds.

3. Apply for Overdraft Protection: If you have multiple accounts see if your bank can setup overdraft protection as a backup plan.  There may or may not be a small fee involved but it will most likely be a lot less than the fee you could get for overdrawing your account.  Not to mention the peace of mind it provides you as a business owner.

Grow your business with the confidence of a trusted business partner at your side. Visit our website or stop by our West Town branch today. 

Ben Premo
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Assistant Vice President
1959 W. Grand Ave.
Chicago, IL 60622
Ph. 312-491-7164