Many people are unaware of what overdraft fees are. Overdraft fees occur when money is being taken from a bank account and the available balance is below zero.
Out of all the cities in the United States, Philadelphia has the highest overdraft fees at $35.80, according to a new study by bankrate.com.
Students from Temple Update had a chance to interview Leah Evans, who is the manager of the PNC bank branch on Temple’s campus. She explained that “not all banks cater to helping individuals cover their overdraft fees and their financial needs.” Evans says PNC’s Virtual Wallet can help individuals avoid overdraft fees.
Many people are affected by this, not only students. Avoiding overdraft fees can be easy. It may be a hassle logging online and checking on your bank account(s) all the time, but it is worth the hassle. Next time your account is close to zero, remember to deposit more money to avoid overdraft fees — especially if you are living in Philadelphia.