You Can Link Your Checking Account to a Savings Account, Line of Credit or Credit Card to Cover Overdrafts
Many people are unaware that their bank or credit union probably has a service that allows you to link your checking account to a savings account, line of credit or credit card to cover overdrafts. Most banks and credit unions don't automatically setup this service when you open an account, you have to ask to have the accounts linked.
![]() Neither is cheap, in fact by bouncing a check you might also be responsible for the other parties fees or end up being late on a bill which can also cost you more money. Sometimes this can happen multiple times in one month costing you a lot of money in fees. In addition, interest is charged on any amount that is placed on your credit line or credit card. The smarter way to cover yourself is linking a savings account which will cost you much less in fees. You should compare the fees to other options to see what is best for you. Some banks also have a minimum transfer amount each time the bank transfers money from a savings account. Be sure to find out whether your bank or credit union has such a minimum. You can find the best savings rates and checking account rates by searching our database of rates. We list both regional rates and national rates from credit unions and banks. |
Recent Savings ArticlesSynchrony Bank Online Savings RateTAB Bank Ups Savings RateUFB Direct Money Market RatesMemoryBank Ups Money Market RatesHSBC Direct Ups Savings RateBarclays Savings Rates and ReviewsMercantial Bank Relationship Money Market RatesBest Savings Rates in New YorkCustomers Bank Money Market RateBangor Savings Bank Savings and Money Market RatesTIAA Bank Yield Pledge Money Market RatesE*TRADE Bank Savings RatesParda Federal Credit Union Savings RatesPresidential Bank Money Market RatesMoney Market Rates in CaliforniaHome Savings Bank Money Market RatesBest Savings Rates in Florida (FL)VirtualBank Money Market Rates Increased OvernightAmerican Express National Bank Savings Rates IncreasedMemoryBank Money Market Rates Move Higher?> |