How to avoid overdraft and NSF fees

We hate overdraft fees as much as you do. They're the kind of hyper-expensive loan we set out to eliminate with the Fig Loan. We have a few tips for avoiding them:

  • Set up payment reminders on your phone's calendar if you have your accounts on autopay.
    • We recommend setting the reminder up for 2 days before the payment is due so you have time to request an extension if your bank account balance won't cover your upcoming bill
  • Set up any automatic payments for the day AFTER your direct deposit comes in.
    • We've seen too many times a customer get charged an insufficient fund fee because a bill was withdrawn from their bank account mere hours before their deposit came in. Fig and other companies don't know what time your deposit will come in--only the day. We also can't control the exact time of day your payment will be withdrawn. To avoid any issue, space them out!

If you were already charged an overdraft fee, please see "How to Fight Overdrafts and NSF Fees."

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