Payments

NSF fee vs. overdraft fee: Key differences (and how to avoid them)

​Key Takeaways

• Banks may charge NSF fees if there are not enough funds in an account to pay for a transaction.
• Banks may charge overdraft fees if an individual doesn’t have enough money in their account to cover an approved transaction in full.
• The cost of each fee can vary from bank to bank.

The guide to credit card minimum payments: How they work + more

A minimum payment on a credit card is the lowest amount a cardholder must pay each month to avoid late fees and maintain a good credit standing. This payment keeps the account active and may help prevent default.