Eliminate Overdrafts: Set Up Automatic Transfer From Savings

Even if you have pristine financial habits, cash-flow timing issues can happen to anyone. To avoid overdraft fees, consider linking your Hopewell Federal Credit Union checking account to your savings account. This way if you don’t have enough funds in your checking account to cover a transaction, the money will transfer directly from your savings and you’ll avoid nonsufficient fund fees.

Be careful, though. These transfers can help you in a bind, but if you get in the habit of relying on too many automatic transfers, you’ll soon run out of funds in both accounts.

The best way to stay on top of your finances and prevent being overdrawn in the first place is to be aware of what you’re spending—every day. If you frequently use your debit card, stay in balance by frequently using Hopewell Federal Credit Union’s online or mobile banking features to monitor balances. Eliminate missed deposits by setting up an old standby—direct deposit.

For help setting up automatic transfers, contact a member service rep today at Hopewell Federal Credit Union.

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