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How To Stop Overdraft Charges

Money : Money Management

Sometimes it feels like the Bank likes to kick you while your down.

You go overdrawn, and to make matters worse, your Bank stings you with a fee for going overdrawn - often referred to as paid referral fee.

But you need to take control of your finances and stop this happening - the easiest way to do this is to set up all your bills and direct debits so they come out of your account on a set day each month.

Then, a week before the date, check the balance of your account and see if there is enough money to cover the bills - if there is, then fine, and if not, transfer some money from your savings or elsewhere to cover the costs and stop you going overdrawn.

If you will go slightly overdrawn even then it is worth contacting your bank to let them know - they may waive the fee through goodwill if a one off event and help you restructure your finances.

By: Stephen

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