They Want You to Go Over Your Debit Limit

She added: "Careful tracking by the customer of transactions is an important responsibility. It is even more critical today than ever before, as there are many new and convenient ways to pay for the goods and services we buy."

Feddis said it's customers' responsibility to keep track of their money because they are in a better position to know their actual balance. Only they know about the most recent automatic payments they have authorized and debit card transactions they have approved.

Still, why won't the institutions warn customers about possible overdrafts? "Current technology makes real-time notification of overdrafts cost-prohibitive," Feddis said.

Interpreted another way: Financial institutions don't want to change the status quo because they make good and easy money off their own customers' mistakes and irresponsibility.

The fact is, Halperin said, that the technology exists and should be installed to deny a transaction if there isn't enough money in a person's account.

I agree with the center that at the very least, consumers should be warned they don't have sufficient funds for a particular purchase. So what if they're embarrassed or inconvenienced? It sure beats getting stung by a string of overdraft fees. If they choose to go forward with the transaction, then they can't complain about the financial consequences.

On this issue, everyone should be held accountable. Consumers have many ways to check how much they have in their accounts before using their debit cards, including going online or using their bank's automated phone system to get an update. To cover themselves when mistakes happen, they can link their checking account to a source of backup funds -- a savings account or line of credit. Or they could just opt out of having overdraft protection.

And financial institutions should restrain their fee frenzy and stop routinely allowing consumers to withdraw funds that exceed their account levels, only to slam them with overdraft charges.

· On the air: Michelle Singletary discusses personal finance Tuesdays on NPR's "Day to Day" program and online athttp://www.npr.org.

· By mail: Readers can write to her at The Washington Post, 1150 15th St. NW, Washington, D.C. 20071.

· By e-mail:singletarym@washpost.com.

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