Overdraft Protection: What Your Bank Doesn’t Want You to Know #infographic

No one wants the bother of seeing their debit card declined.The bankers have come up with an apparently beneficial solution to help. Overdraft protection is a service that allows card users to pay for items even if they do not have the funds temporarily, and can potentially help consumers avoid such awkward problems.

What seemed like a smart idea, however, might have been pushed too far: and now, overdraft insurance is a key source of bank income.Here's an explanation of how overdraft protection works, and why it tends to do more harm to consumers than it does.

infographic by:  wealth.visualcapitalist.com