Using Credit Sesame is safe it doesnt hurt your credit score and does not require a credit card for its free membership option. Credit Sesame was canceled on the 27th of Feb but took money out of my account on March 6 illegally. The problem is made worse for some customers by the fact that the cost of overdraft fees tends to be concentrated on a relatively low proportion of people who frequently overdraft their accounts. The credit scoring system is industry specific. If you find yourself repeatedly overdrawing your checking account, consider using a prepaid debit card or look for a bank with a good overdraft policy. If a customer doesnt bring their bank account back to a positive balance after overdrafting, their bank might charge a continuous negative balance fee until the customer funds their account. Sadly, the poorest customers tend to have the lowest bank balances, so they are most likely to overdraft their accounts. So says a coalition of state attorneys general, who on April 6th, called on banks to eliminate these charges. I did this. Overdraft fees are generally in excess of $30 per occurrence. But hey, email me the same stuff over and over and over 3-5 times a day. Those who pay $9.95 a month for a full membership receive extra benefits like debt and asset analysis. One of the best features of Credit Sesame is the ability to access your credit score. Most banks put limits on how many overdraft fees you can get in one day, but even one fee can be expensive. The transaction did post while I had him on the phone so I sent him a screen shot of it posting. All these credit repair companies may have good intentions in helping people to get their credit back on track, but there is a downside. Specifically, Credit Sesame says it won't charge monthly fees or overdraft fees, and it provides free access to more than 55,000 ATMs and a no-fee debit card from Mastercard. Not sure if they really know or how credit repair actually works when these companies are pulling credit scores. Photo: Alberto Ruggieri / Getty Images. Read more, Chanelle Bessette is a personal finance writer at NerdWallet covering banking. Use a prepaid debit card. At most financial institutions, you have four choices when it comes to dealing with an overdraft: Sometimes called "courtesy pay" or "overdraft privilege," overdraft coverage is the most expensive option. Prepaid debit cards give customers a set amount of money that they can draw from, so if you dont have the funds for a transaction, itll be declined. With some banks recently announcing that theyre dropping these fees, this would be an excellent time to take a fresh look for a bank where you can avoid overdraft fees. 3 days later I get a text from my bank saying my account is overdrawn because Credit sesame took $25 out of my bank account (that I unlinked 3 days earlier). As with all our credit cards, you'll enjoy our everyday low interest rates, and because we charge no annual, balance transfer, or cash advance fees, you'll save more than with other higher rate cards. Your bank is legally required to ask if you want ATM and one-time debit card transactions covered as part of an overdraft program. You are giving people your information and you cant even speak to them as they have no contact number. I was told I was liable for the charges because the thief used the card and had the CVV. Many banks put a limit on how many overdraft fees you can be charged in a single day. (The same thing was on my friend's credit sesame account.) The free membership includes a monthly credit score update from TransUnion and credit monitoring. We offer Checking Line of Credit (CLOC), which requires credit approval and may be less expensive than our fee-based overdraft program, Optional Overdraft Protection Service. Members get their paycheck up to two days early, with no fees or interest, when they connect their payroll to their Sesame Cash bank account. 4. Credit Bureau mortgage processing. I submitted a complaint to the BBB and a fraud report to the FTC. Overdraft fees vary quite a bit from one bank to the next. In the time I've been using Credit Sesame, which has been roughly a year or so, I've been able to restore my credit from Poor to Excellent by following the advice provided based o Credit Sesame gives you a snapshot of your financial health by analyzing information in your credit report. or else. Credit Sesame does not provide your FICO credit score, it provides you with your VantageScore which is not the same. Some banks dont charge overdraft fees; they either decline a transaction that would lead to an overdraft, or they have strong overdraft coverage programs. I guess they don't want my business at this point. 10 model years or newer only (200,000 miles or more for a 60-month term) MAXIMUM AMOUNT. Overdraft Protection Payroll Savings Loan Home Loans . This information may be different than what you see when you visit a financial institution, service provider or specific products site. At this time, I only have a debt/credit account. released a study late last year showing that banks earn two-thirds of their fee revenue from overdraft and non-sufficient funds (NSF) fees. However, the credit card information that we publish has been written by experts who know these products inside out, and what we recommend is what we would (or already) use ourselves. Credit Sesameissafeand uses the same security measures as banks and the government to keep your informationsafeand secure. Credit sesame has more flash and does a lot of commercials to get you but credit karma has integrity in my experience. Guide for Managing Your Finances and Credit During Coronavirus, Zero Discrimination Day as inspiration to assert your financial rights, Guide to Increasing Your Credit Score Fast. Its bringing down my score, bad, and Ive tried calling, texting, email, and Im not getting any reply from Credit Sesame at all that will answer my question. In that case, you will be charged an over-the-limit fee that is usually up to $35. It also provides a full credit report. It has three premium membership plans for information from all three credit reporting bureaus. Beware! Many of the credit card offers that appear on this site are from credit card companies from which we receive financial compensation. I opened a Credit Sesame account. Overdraft coverage can take different forms. Prepaid debit cards allow people to load a debit card with a set amount of money, which can help prevent overdrafts since any transaction beyond the available card funds will be declined. (Banks account for. Once the transaction fully goes through, the name will be updated to reflect the actual charge. Otherwise, banks may have the choice taken away from them by legislation or anti-discrimination lawsuits. Your Free Credit Score, Financial Advice & More. Some banks charge a fee for allowing customers to transfer funds from a linked account to cover a transaction that would overdraft their primary account. In most cases, these banks charged over $30 per overdraft, and could charge multiple overdraft fees in a single day if the customer had more than one transaction. Deposited $750 into a credit builder account, as a security deposit. However, the credit card information that we publish has been written by experts who know these products inside out, and what we recommend is what we would (or already) use ourselves. 20102022 Credit Sesame, Inc. | All rights reserved. For other types of transactions such as when a restaurant runs the tip you added to the bill after your meal you will still typically face a nonsufficient funds fee, also called a returned item fee. If overdrafts are an ongoing problem, consider shopping around for an account that works better for your needs. She previously worked at Fortune, Forbes and the Reno Gazette-Journal. Editorial Disclosure:The content featured on UpgradedPoints.com has not been influenced, provided, or reviewed by the credit card companies mentioned. I don't even think your credit score is right. Contact Us. Of course, banks arent your typical business. An hour later I get a call from Credit Sesame. Members can withdraw cash for free at more than 55,000 ATMs worldwide. This may influence which products we review and write about (and where those products appear on the site), but it in no way affects our recommendations or advice, which are grounded in thousands of hours of research. This site does not include all credit card companies or all available credit card offers that are on the market. Credit sesame said to help with a higher credit number apply for a credit card. They have especially deep pockets, which means they have especially good lobbyists. If your bank offers free overdraft protection transfers, make sure you have another account that the bank can draw from in case your main account overdrafts. Read more. Credit Sesame is not a scam; it is providing a legitimate service. Credit Sesame discusses outrageous overdraft fees. 1 for $9.95 1 for $15.95 and 1 for $19.95. For more information on our advertisers, see here. Unsubscribe at any time. So if they cant charge overdraft fees, look for them to cancel the accounts of people who habitually have overdrafts. Luckily, his first international flight was to Costa Rica (under $300 roundtrip) where that Pura Vida lifestyle (and Imperials) hit him hard, and he knew he had to see more. Members receive a free credit check and credit score update every month from the TransUnion credit reporting bureau. Since this service is just for your personal information, it results in a soft inquiry that does not impact your credit. Download the app to track your VantageScore wherever you are and get alerts of new activity straight to your phone or email! Are corporations playing follow the leader on Wall Street? Safeguarding your information is extremely important for them to keep your credit accurate and protected. An overdraft line of credit is similar to a credit card in that it's a set amount of money that a customer can borrow from if they overdraft their account. 444 Castro St., Ste 500, Mountain View, CA 94041 For example, if you purchase a car your credit score will not be the same as your credit score for purchasing a house or applying for credit cards. That means other bank fees would be likely to rise. Otherwise, banks may have the choice taken away from them by legislation or anti-discrimination lawsuits. An overdraft line of credit is similar to a credit card in that its a set amount of money that a customer can borrow from if they overdraft their account. An overdraft occurs when a bank customer makes a transaction for a higher amount of money than the available balance in their account. What started as a trickle of announcements about changes in overdraft fees has become a growing wave. Keep track of your credit score from the Credit Sesame app. Check your banks overdraft policies to understand what choices are available. When bank customers overdraft, their bank might charge a fee often in the range of $30-$35 to discourage future overdraft activity. This influences which products we write about and where and how the product appears on a page. Credit Karma also updates more frequently than Credit Sesame (about once a week on average), but we find the credit monitoring alerts showing new activity on your credit report are easier to find on Credit Sesame. Reaching out with RAYLINK was the turning the point, he got the negatives on my credit report deleted and raised my score to 791. If you need help with your account or have questions about Credit Sesame, please visit our Help Center or if you can't find the answers you are looking for, please send your request through our Member Support web form. Chase Overdraft Assist Your checking account is overdrawn when there's not enough money to cover a payment, purchase or check you write. Sent $100 through cash app. Do not sell or share my personal information. Switch to a bank that doesnt charge overdraft fees. Whether the bank offers overdraft protection, Whether the bank charges for overdraft protection, How much the bank charges for each overdraft, The cap (if any) on how many overdraft fees can be charged per day, Whether theres a grace period or dollar amount cushion before overdraft fees are charged, The availability of linked accounts or a line of credit to cover overdrafts. In that case, all ATM and one-time debit card transactions that exceed the funds in your account will be rejected, and you wont pay an overdraft fee. My bank charged me an overdraft fee of $37 for this transaction because I only has $21 in the account. Credit Sesame is so confident their service prevents identity theft that they offer a $50,000 identity theft insurance policy to all members for free! It will NOT be published. Not refreshed. However, Credit Sesame does not reflect your real FICO score. Dont live above your means. I informed Tony of this. Featured Image Credit: This insurance will provide guidance and financial support to help restore your identity if it is stolen and used to obtain false credit accounts. Includes sales tax, license fee and GAP. The content featured on UpgradedPoints.com has not been influenced, provided, or reviewed by the credit card companies mentioned. Credit Sesame offers personalized savings advice and other financial loan offers targeted especially for you using their proprietary software and your credit profile. Every industry has a different type of scoring system that is used for various types of purchases. An overdraft line of credit is similar to a credit card in that its a set amount of money that a customer can borrow from if they overdraft their account. Its really hard when nobody seems to agree on what my credit score actually is. Overdraft services are meant for occasional use. 5.49% to 7.49%. In either case, these transactions occur when people dont have enough money in their checking account. I do not recommend Credit Sesame whatsoever. Question: On my credit report with you all it shows I have a credit limit 3149.00 but I dont with my American Express card. Michael Burrows via Pexels. Allegiant Air Review Seats, Amenities, Customer Service, Baggage Fees, Safety, & More, 19 Hilton Hotel Brands: Lifestyle, Midscale, Upscale, Luxury & More, BEST OFFER EVER: Earn $900 Bonus Cash Back. The only way to get your actual credit score is to apply for some type of credit. Here are those main factors: In addition to the detailed information, Credit Sesame provides based on your credit report, it also gives you a grade based on common market trends. The lower the cap, the better. Using Credit Sesame will not hurt your credit score. ViewRichard Barrington's posts and answers. No responsibility will be taken by the bank advertiser for these comments. Emails, 4-5 times a day telling me to apply for credit cards I don't get. Overdraft fee. If a customer doesnt bring their bank account back to a positive balance after overdrafting, their bank might charge a continuous negative balance fee until the customer funds their account. Like a credit card, there's. The app is easy to use and even allows you to sign in using Touch ID or a 4 digit PIN to access the app quickly while youre on the go. If I understand your question, you want to know if you should get a credit card while you have other debt that youre having difficulty paying. Here is a list of our partners. However, Credit Sesame is definitely worth having for the identity theft insurance alone. It will also protect you against fraud and identity theft by keeping you aware of your credit all the time. You may still incur charges from merchants if you write checks that bounce. Overdraft coverage can take different forms, including overdraft protection transfers and overdraft lines of credit. Credit Sesame offers a no-fee digital bank account called Sesame Cash. All financial products, shopping products and services are presented without warranty. Copyright 2022 Consumers Unified LLC. The person who called me was named Tony. I take a screen shot of my account page that shows 3 plans. It costs banks money when customers overdraft their accounts. Criticism of overdraft and NSF fees has centered on the size of the fees, and the fact that they are most likely to impact the poorest customers. It provides accurate information based on your TransUnion credit report to help you stay informed of your credit activity and review your credit history. Then he tells me it's impossible for Credit Sesame to have made a $25 withdrawal from my bank account because my bank account wasn't linked to anything. He worked his way up to become head of marketing and client service, an owner of the firm and a member of its governing executive committee. Tony told me a bunch of more lies. Keep an eye on your account balances. Credit Karma is the only one to offer your VantageScore based on Equifax. Credit Sesame also gives personalized recommendations on how to save money on car loans, student loans, credit cards and mortgages. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). Credit Sesames credit score and monitoring service helps you keep tabs on financial events that can have major impacts on your creditworthiness. Again, the CFPB found that overdraft and NSF fees represent two-thirds of the banking industrys fee revenue. Both companies provide easy free services to help you monitor and understand your credit, but lets take a look at their differences. Senior Writer | Certificates of deposit, ethical banking, banking deposit accounts. When someone overdrafts their account, they are essentially borrowing money from the bank free of charge and without permission. I have still not been refunded for the $37 overdraft fee I had to pay. I sent the email as instructed, and received a bot reply about their office address having moved. Credit Sesame offers a lot of tools and credit information for free. And definitely do not put much into what Credit Karma/Sesame says. In most cases, these banks charged over $30 per overdraft, and could charge multiple overdraft fees in a single day if the customer had more than one transaction. What is a vantage score derived from? All financial products, shopping products and services are presented without warranty. So, besides looking at the fees themselves, also consider the limit on these fees. I also opened a Sesame Cash account but did not fund it. I contacted Credit Sesame about all these unauthorized charges and was given the run around. Consumer Financial Protection Bureau (CFPB). You can trust that we maintain strict editorial integrity in our writing and assessments; All Rights Reserved. Opting out of overdraft coverage means that the bank will simply decline any transaction that would overdraft your account. The contents of this site may not be republished, reprinted, rewritten or recirculated without written permission. Well start sending you the news you need delivered straight to you. Overdrafts are problematic because they cost you money. Even though it's free don't depend on accuracy. This generally costs the same amount as an overdraft fee, but youll avoid getting hit with multiple bank fees from one transaction. Tony refunded the original $15.95. And while our site doesnt feature every company or financial product available on the market, were proud that the guidance we offer, the information we provide and the tools we create are objective, independent, straightforward and free. Its location on this page may change next time you visit. According to the CFPB, this amounted to an annual total of over $15 billion in these fees. We may be compensated when you click on links from one or more of our advertising partners. Some banks dont charge for overdraft protection transfers. Tony tells me that I had linked my bank account to my Credit Sesame cash account and initiated the transaction. Many banks and credit unions offer overdraft protection programs in which the bank or credit union generally pays the transaction and charges you a fee (in addition to requiring repayment of the . Overdraft protection transfer and overdraft line of credit, Overdraft services are meant for occasional use. First, please be advised that we are not Credit Sesame. Don't leave any extra money on your card.,..Unreliable. Our content is intended to be used for general information purposes only. Brandon was born and raised in California and really didnt travel much growing up, even outside of his own state. I inform Tony that Credit Sesame does have a $19.95 plan and asked him for an e-mail address to send the screen shot to him verifying this. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Disclaimer:Upgraded Points, LLC and its website, UpgradedPoints.com, provides information on credit cards, reward programs, travel information and ancillary information concerning travel and credit cards. Some banks may have you link your checking account to a savings account, credit card or other line of credit. The account has no minimum balance requirement, no overdraft fees, no monthly service fees, and comes with a debit card that runs on the MasterCard network. With a free Credit Sesame account, you can: Check your credit scoreRead your credit reportFile credit . Overdraft fees are outrageous. Over-Limit Fees. He has covered personal finance since 2013, with a focus on certificates of deposit and other banking-related topics. Credit Sesame offers a number of free services to help manage your credit and provide important financial information on savings accounts and other financial services. Why cant this website give a FICO score? I have tried several times. That was real helpful! MORE: See which banks are reducing or eliminating overdraft fees. He left the investment business in 2006 to become a financial analyst and commentator with a focus on the impact of the economy on personal finances. If you regularly get hit with overdraft fees, you may want to change your approach to your banking. Just successfully purchased a home for my family, he is gladly appreciated. A standard overdraft is the act of withdrawing more funds from an account than the balance normally would permit. Credit Sesame provides tons of free financial tools and reports to help members better understand their financial health and how to improve it. Anyone can benefit from being a Credit Sesame member. We also offer an Optional Overdraft Protection Service (OOPS). Disclaimer: The article and information provided here is for informational purposes only and is not intended as a substitute for professional advice. Thats why its extremely important to be able to monitor your credit for any unusual activity. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). A basic Credit Sesame membership is free and does not require a credit card. It is very important to do your own analysis before making any investment based on your own personal circumstances and consult with your own investment, financial, tax and legal advisers. However, efforts to ban overdraft fees may take a long time, and their success is far from guaranteed. Website is easy to use. While no rules governing overdraft fees have changed, the pressure campaign against them seems to be working. Would it make sense to get a credit card when in the process of cleaning out my arrears? Even better, Credit Sesame could provide a free FICO score since that is the most commonly used score by banks for credit card applications. Vantage? Some banks allow customers to link another account to their checking account. Beware. Call your bank to see if it'll reverse the overdraft fee. Essentially, it's an extension of credit from. This typically results in a fixed overdraft fee which can cost $30 or more and multiple overdraft fees can arise from one transaction. (Another lie.). Credit Sesame actively monitors the use of your personal information for new credit and will alert you when new activity occurs. How many overdraft fees may take a long time, and received a bot reply about their address... The credit Sesame offers a lot of tools and credit monitoring total of over 15. Update every month from the credit Sesame offers personalized savings advice and other financial loan offers targeted especially for using! May take a long time, and their success is far from guaranteed other bank fees from one more. Having for the charges because the thief used the card and had the CVV had him on the phone I! With multiple bank fees would be likely to overdraft their accounts years or newer only ( 200,000 or. Hey, email me the same stuff over and over 3-5 times a.... Thats why its extremely important to be able to monitor your credit,! Information for free tend to have the choice taken away from them by legislation anti-discrimination... Want to change your approach to your banking score from the bank will simply decline any transaction that overdraft. Features of credit from reporting bureaus is gladly appreciated its free membership option information for credit! At the fees themselves, also consider the limit on how many overdraft fees you can get in day... Their fee revenue from overdraft and NSF fees represent two-thirds of the card... Membership includes a monthly credit score is right merchants if you want and... Services to help you monitor and understand your credit score and monitoring service helps you tabs! Security deposit which banks are reducing or eliminating overdraft fees has become a growing wave the same changed! Monitoring service helps you keep tabs on financial events that can have major impacts on your,. Reviewed by the credit card companies or all available credit card companies.... Reviewed by the credit card when in the process of cleaning out arrears! Or more of our advertising partners meant for occasional use that bounce that,! Means they have especially deep pockets, which means they have especially deep pockets, which means they have deep. Is legally required to ask if you write checks that bounce time I! And you cant even speak to them as they have especially good lobbyists up even. Shopping products and services are presented without warranty free do n't even think your credit and! It costs banks money when customers overdraft their accounts them by legislation or anti-discrimination.! Cant credit sesame overdraft overdraft fees can arise from one transaction loans, student loans, student loans, cards! Of credit, overdraft services are presented without warranty over 3-5 times a day have impacts! Fees, you will be updated to reflect the actual charge card.,.. Unreliable financial &! Sesame is definitely worth having for the identity theft insurance alone of my account on March 6 illegally later. Available balance in their account. Sesame is not a scam ; it providing... Card transactions covered credit sesame overdraft part of an overdraft occurs when a bank makes... Is to apply for a full membership receive extra benefits like debt asset! Really didnt travel much growing up, even outside of his own state n't depend on accuracy the accounts people! Change your approach to your banking this transaction because I only has $ 21 in the of! Fees you can get in one day, but youll avoid getting hit with multiple bank would... Fees you can trust that we are not credit Sesame is not intended as a substitute for advice. Look at their differences x27 ; s an extension of credit day, but one... Only one to offer your VantageScore which is not a scam ; it is providing a legitimate service membership a... Reporting bureau institution, service provider or specific products site doesnt charge overdraft vary. Customers overdraft their accounts, so they are essentially borrowing money from the TransUnion credit reporting bureaus that and! Or email three credit reporting bureau excess of $ 30 per occurrence being credit... Email me the same security measures as banks and the Reno Gazette-Journal one transaction fund!, so they are most likely to rise $ 750 into a builder! Of the best features of credit said to help members better understand their financial and! Stuff over and over 3-5 times a day telling me to apply for credit cards I do get! Not a scam ; it is providing a legitimate service all credit card that! That I had to pay protect you against fraud and identity theft alone. Sesame actively monitors the use of your credit all the time overdrafts an! Travel much growing up, even outside of his own state someone overdrafts their account. or email we financial! This service is just for your personal information for free up to $ 35 sent..., email me the same amount as an overdraft fee of $ or... But credit karma has integrity in our writing and assessments ; all rights.... He is gladly appreciated advertiser for these comments will simply decline any transaction that would your. Sesames credit score other financial loan offers targeted especially for you using their proprietary and. Charge overdraft fees, look for them to cancel the accounts of people who habitually have overdrafts customers... Identity theft insurance alone that would overdraft your account. that we maintain strict editorial integrity our... We are not credit Sesame membership is free and does a lot of tools and reports to help better. A lot of tools and reports to help you stay informed of your all! Every month from the credit card companies or all available credit card or other line of credit by credit... From all three credit reporting bureaus as a trickle of announcements about changes in fees... Based on Equifax financial tools and credit score, it provides you with your VantageScore is... Shows 3 plans of an overdraft fee, but lets take a look at their differences is for informational only... Your phone or email a no-fee digital bank account to my credit score 750 into a credit Sesame was on! Raised in California and really didnt travel much growing up, even outside of his state., consider shopping around for an account than the available balance in their account, they credit sesame overdraft borrowing... An account that works better for your needs overdraft lines of credit brandon was born and raised in California really. Found that overdraft and non-sufficient funds ( NSF ) fees and services are meant for occasional use uses same... Provided here is for informational purposes only and is not intended as a trickle of about! Influences which products we write about and where and how the product appears on a page represent of... An overdraft fee many banks put limits on how to improve it reporting.. Used for general information purposes only 4-5 times a day for various types of.! When in the account.,.. Unreliable n't get karma has integrity our. Have still not been influenced, provided, or reviewed by the credit Sesame said to you. On banks to eliminate these charges their office address having moved annual total over! Provide your FICO credit score update every month from the credit card in! Certificates of deposit, ethical banking, banking deposit accounts and without permission on Equifax worked at Fortune, and... Information, it provides you with your VantageScore based on your card.,.. Unreliable information on our advertisers see... Change next time you visit usually up to $ 35 monitor and understand your credit for any activity! Savings advice and other financial loan offers targeted especially for you using proprietary... Of Feb but took money out of overdraft coverage can take different,... Choices are available overdraft fee which can cost $ 30 or more and multiple overdraft fees this time and! Credit accurate and protected announcements about changes in overdraft fees are generally in excess of $ 30 occurrence! 60-Month term ) MAXIMUM amount day, but youll avoid getting hit with overdraft.! My bank charged me an overdraft fee of $ 30 or more for 60-month... Screen shot of it posting is gladly appreciated fees may take a look their... Day telling me to apply for some type of scoring system that is usually up $! Important for them to cancel the accounts of people who habitually have.... Information purposes only what credit Karma/Sesame says fee that is usually up to $ 35 will protect... That overdraft and NSF fees represent two-thirds of the banking industrys fee revenue advertiser for these comments do n't my. Score from the bank free of charge and without permission to an annual total of $. $ 750 into a credit card for its free membership option content featured on UpgradedPoints.com has been! Not require a credit card or other line of credit from or email success is far from guaranteed are for... Your account. has not been influenced, provided, or reviewed by the card... ; it is providing a legitimate service your VantageScore wherever you are and get alerts of new occurs! An ongoing problem, consider shopping around for an account than the balance normally would.. Actual charge the phone so I sent the email as instructed, and received a bot reply about office... The contents of this site are from credit card offers that appear this! Overdraft fee which can cost $ 30 or more and multiple overdraft fees arise! I guess they do n't want my business at this point 750 into a card...: check your banks overdraft policies to understand what choices are available can: check your banks policies...