Be Good To Your Money Bulletin http://ezezine.com
FOR ALL CHECK WRITERS
Effective 5/1/06, holders of your returned (NSF) checks can have your
bank account debited for the check amount and the NSF fee.
EXAMPLE: You write a $30 check to Sears for merchandise. The check is
returned to Sears. Sears has a $25 NSF fee charge. Sears, now, has
the right to request your bank to debit your bank account for $55.00,
which could cause "another" overdraft of your account ($25 each). So,
this $30 check could cost you $105.00. BEWARE!
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ATTN: DEBIT CARD USERS
Using your debit card to buy gas could cost you more than the high cost
of gas. Many companies are putting a "hold" or a "block" on your debit
account of as high as $100.00 to make sure you have the funds to pay
for your purchase. This temporary amount is held against your account
until the correct amount clears. This could lead to your bank account
becoming "overdrawn" and result in overdraft fees being charged by your
bank.
My opinion: CASH IS KING!!