Overdraft Fee

Overdraft fees, substantial charges levied when bank accounts fall below zero, represent a significant financial burden for many individuals. Research focuses on developing predictive models, often employing machine learning techniques, to identify customers at high risk of incurring these fees, enabling proactive interventions such as timely alerts. Successful applications of these models demonstrate substantial reductions in overdraft fees, highlighting the potential for technology to mitigate financial hardship and improve personal financial management.