Ever write a check thinking you had plenty in your account to cover it? Make a debit card purchase before your paycheck cleared? How about the time you withdrew $5 too much from the ATM?

Sure, your bank was happy to cover the amount. Why not? Although touted as a customer "convenience," overdraft fees have been soaring. Last year, overdraft charges generated nearly $24 billion dollars for banks and credit unions. That's 35% more than just two years earlier, according to the Center for Responsible Lending.

Warning! No Warning

The first problem with overdraft fees is that you don't receive any notice that the transaction you're about to make will exceed the balance in your account. If you did, at least you'd be able to choose whether you want to continue with it or not.

In some cases you can trigger overdraft charges even if your online statement shows you have plenty in your checking account! That's because your balance is "theoretical" and doesn't reflect the fact that a recent deposit may not have been in your account long enough for the funds to "clear."