Dangerous convenience Debit card # 2

I’m Miriam Neff and I’m Valerie Neff Hogan with Wise Women Managing Money

M Bank debit cards are convenient, and can be disastrous.  Many of us use auto pay directly paying bills from that account.  We haven’t been paying attention and then we purchase something using our debit card.  Overdraft time. 

V  This means probably a $35.00 charge.  In fact some banks charge that amount for each day the account is overdrawn.  Imagine if you are not paying attention and that overdraft continues for 5 days.  $175.00.  Not all banks do that.  This is a need to know, that you need to know. 

M We’re not saying don’t ever use a bank debit card.  We’re just saying always have reserve in your bank account for auto deducts and debit’s when you are sure all are covered.