Some people may think they are being prudent by using debit cards to do all of their holiday shopping.
If they've got the money, that may be true.
But consumer groups are warning people to be aware of their bank's overdraft charges, and other provisions of bank debit cards.
"Banks are charging $35 on overdraft charges for small purchases," said Lauren Bowne of the Consumers Union. "They are making an incredible amount of money."
Currently, banks automatically pay a check or debit even when there are insufficient funds in an account, she explained. They send a notice to the customer advising them that the check was paid, but that a fee was also levied against the account.
The consumer group is pushing for a change in the law that would require banks to have consumers sign up for the overdraft program rather than automatically be signed up for it.
The consumers group is also asking that banks charge smaller overdraft fees, like $5 or $10.
