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Release Date: April 2009

PROTECTING YOURSELF FROM OVERDRAFT AND BOUNCED-CHECK FEES

If you use debit or check cards to make most of your purchases, you might know how easy it is to overdraw your bank account and get hit with an overdraft charge. Protecting Yourself from Overdraft and Bounced-Check Fees from the U.S. Federal Reserve Board and the Federal Citizen Information Center discusses ways to avoid overdrawing your account. It also talks about the benefits and cost of overdraft or bounce coverage protection plans, which charge you a fee if you overdraw your account, but prevent your checks from bouncing if you’re within your bank’s limits. You can also learn about other methods of overdraft protection, such as linking your checking account to a savings account. For a copy, send your name, address, and a check or money order for $1.50 to the Federal Citizen Information Center, Dept. 312T, Pueblo, CO 81009. Or call toll-free 1 (888) 8 PUEBLO, that’s 1 (888) 878-3256, and ask for Item 312T. Have your credit card handy. And visit www.pueblo.gsa.gov to read or print this and hundreds of other FCIC publications for free.

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