Overdraft fees

 According to a recent Bankrate study, the average overdraft fee is a whopping $33.58. Banks have historically relied on the fees as a major source of revenue, but making overdraft policies more consumer friendly is a big trend in banking right now. Banks have been feeling the pressure from consumers and government officials to get rid of the fees. The Consumer Financial Protection Bureau is currently drafting rules outlining when a lender can charge an overdraft fee and will heavily scrutinize firms that rely on such charges. there's speculation that more big banks will get rid of the fees, while smaller banks and credit unions will modify existing policies. Smaller banks typically need to charge such fees to stay profitable. Meanwhile, if you overdraw your account, call your bank as soon as you notice. It may be willing to waive the fee if you haven’t overdrawn your account before.