Frequently Asked Questions(FAQ)

Does my checking account show up on my credit report?

Your bank account information will not show up on your credit report and it does not directly impact your credit score. However, lenders will use information regarding your checking, savings, and assets to determine if you meet their creditworthiness thresholds. However, ensure that you do not overdraft on credit card or personal loan payments, as if the payment is not made up promptly, that resulting activity can be reported to the bureaus.

How much are overdraft fees?

Overdraft fees can be $35 per transaction, according to the Federal Deposit Insurance Corporation (FDIC). Your bank may charge daily overdraft fees as well, which continue to increase each day your checking account remains overdrawn. You may be able to avoid overdraft fees by signing up for overdraft protection or linking two accounts together with your bank.

How much does overdraft protection cost?

Many banks and larger financial institutions provide overdraft protection at no additional charge. Other banks will charge you a fee each time they need to transfer money from your overdraft account into your checking account. These fees are typically $10 to $15 per transfer. This said, overdraft fees are far more expensive, making an overdraft protection option much more lucrative.

About the Authors

Ann Schreiber

Written by: Ann Schreiber

Seasoned Copywriter & Content Marketer

Ann has been a marketer and a content writer for over 20 years. She worked for financial institutions such as FICO, Experian, and BlueChip Financial as a director of content and brand marketing.

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