Think the overdraft protection on your bank account saves you big overdraft fees on bounced checks? Chances are you didn’t bounce a check but you did overspend with your debit card through purchases and ATM withdrawals which you wouldn’t have made if your bank had refused the transaction for insufficient funds.

According to the report, “Debit Card Danger” by The Center for Responsible Lending, most people when given a choice would cancel an ATM transaction or debit card purchase if they knew it would spend them over their bank balance. Although bounced checks account for about 25% of overdraft fees, debit card transactions account for nearly half at 46%.

Fees charged on overdraft protection accounts cost an average of $2.17 for every dollar borrowed. Check overdrafts cost $0.86 per dollar. It’s easy to see that the banks are not saving the consumer high overdraft fees on bounced checks but rather encouraging overdrafts made with a debit card – overdrafts that the customer might not incur had he been warned the transaction would overdraw his account.

Bank fees related to ATMs and checking accounts continue to rise and cost consumers billions of dollars per year.

Since banks started imposing fees on ATM transactions the fees have risen and now stand at an average of $1.64 per transaction. Similarly, banks have increased punitive fees for bounced checks.

The blame is being put on consumers’ reluctance to take out new loans in a period of high interest rates. The slowdown in investing leaves banks to find new ways to make money.

Banks are expected to reap $55 billion this year from bank fees alone.

Don’t let them make that money off you. Minimize use of ATMs, or at least ones belonging to other banks or networks. Most banks don’t charge a fee if you use the ATM at your own bank. If you need cash consider cashing a check at the teller window (although, there are a few banks that charge for using teller services too). Taking cash back during a debit card purchase at the store is another way to get pocket money out of your account without paying a fee. Guard against bounced check fees by paying scrupulous attention to your account balance and recording every debit card purchase and ATM withdrawal. Often it is one of those forgotten transactions that can cause the miscalculation that leads to a bounced check.

There are still banks that offer transactions without fees or lower fees. Check around and be prepared to change accounts if you find a better deal.