Some people use overdraft services in lieu of payday loans. The superiority of one product over another boils down to how much you borrow or overdraft. While payday loans often charge an effective APY of 400%, overdraft fees can reach $35 per charge, sometimes making the effective APY as high as 17,000% on smaller transactions.
After Capital One decided to shut down the Level Money app some of its users started checking out Tiller for an easy personal finance management alternative. In this post we share some insights about personal finance apps and why other Level Money customers might consider using a finance spreadsheet to stay dialed in to their finances.