Make manual payments, automatic deposits4 of 8The inability to opt out of overdraft protection on automatic payments is a good reason to keep withdrawals from your account on manual so you can authorize and track each payment."If pre-authorized routine payments are knocking you in the red, another way to handle that is to be the initiator of when each payment gets made," Fox says.Automatic payments are especially risky if you forget to record them in your check register because each time a payment goes through unnoticed, you might not have enough money in your checking account to cover the next withdrawal.The opposite is true for direct-deposited funds such as paychecks. These items typically are available immediately while paper checks usually are put on hold for a while. Direct deposits can help you ensure you always have enough money in your account to avoid overdrafts.« Back to Financial Regulation. Related Articles:Checking account tipsDebit card rewards surveyAvoid checking feesBank statement anatomyRelated Links:High-Yield Checking Study4 tips to thwart ATM thievesBanking at credit unionsFinancial reform dissected advertisement
The inability to opt out of overdraft protection on automatic payments is a good reason to keep withdrawals from your account on manual so you can authorize and track each payment.
"If pre-authorized routine payments are knocking you in the red, another way to handle that is to be the initiator of when each payment gets made," Fox says.
Automatic payments are especially risky if you forget to record them in your check register because each time a payment goes through unnoticed, you might not have enough money in your checking account to cover the next withdrawal.
The opposite is true for direct-deposited funds such as paychecks. These items typically are available immediately while paper checks usually are put on hold for a while. Direct deposits can help you ensure you always have enough money in your account to avoid overdrafts.
Bankrate wants to hear from you and encourages thoughtful and constructive comments. We ask that you stay focused on the story topic, respect other people's opinions, and avoid profanity, offensive statements, illegal contents and advertisement posts. Comments are not reviewed before they are posted. Bankrate reserves the right (but is not obligated) to edit or delete your comments. Please avoid posting private or confidential information, and also keep in mind that anything you post may be disclosed, published, transmitted or reused.
By submitting a post, you agree to be bound by Bankrate's terms of use. Please refer to Bankrate's privacy policy for more information regarding Bankrate's privacy practices.