Mar 22, 2023

Question of the Day: What is the average fee when you overdraw your checking account using your debit card?

With some banks removing them altogether, are we over overdraft fees? Not even close.

Answer: $29.80


  • What do you think are the reasons that people spend more money than what they have in their checking accounts? 
  • What has been the recent trend with the average amount of overdraft fees? Why do you think some banks have started removing overdraft fees?
  • What are the ways that you can prevent your account from being overdrawn (spending more than you have in your account)? 

Click here for the ready-to-go slides for this Question of the Day that you can use in your classroom.


Behind the numbers (BankRate): 

"The trend among banks to reduce or eliminate overdraft and NSF fees comes at a time when proposed federal legislation would limit their ability to charge such fees. The Consumer Financial Protection Bureau (CFPB) has also called for an end to these fees, releasing a report that revealed 20 banks each earned between $50 million and $1.4 billion in overdraft and NSF fee revenue in 2021.

While average overdraft and NSF fees are lower than they’ve been in more than a decade, they’re not completely going away just yet. Fees for overdrafts and nonsufficient funds are still charged by 96 percent and 87 percent of accounts surveyed, respectively."


The NGPF Online Bank Simulator is a great way to teach your students how to manage an online bank account (and avoid those pesky overdraft fees!).


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About the Author

Ryan Wood

Ryan grew up with and maintains a love for learning. He graduated from the University of Wisconsin-Green Bay with a degree in Business Administration and worked in sports marketing for a number of years. After living in Texas, Colorado, Tennessee, and Minnesota, the call of education eventually brought Ryan back to his home state of Wisconsin where he was a Business and Marketing teacher for three years. In his free time he likes to spend time with his wife and daughter, play basketball, read, and go fishing. Now with NGPF, Ryan is excited to help teachers lead the most important course their students will ever take.

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