Of the 23 banking transactions that checking account
holders report making each month, on
average, 10 are
debit card purchases and six are conducted through online banking.
According to research by the Consumer Financial Protection Bureau (CFPB), less than one - fifth of account
holders — those who incur three or more overdraft fees per year — pay more than 90 percent of all overdraft fees triggered by
debit cards, checks, and ACH electronic transactions.3 Similarly, The Pew Charitable Trusts» chartbook Heavy Overdrafters: A Financial Profile, shows that «heavy overdrafters» — consumers who pay more than $ 100 in overdraft and nonsufficient funds (NSF) fees in a year — generally have incomes below the U.S.
average, and overdraft fees consumed nearly a full week's worth of their household incomes on
average during the past year.