Posted: 2/22/2005 7:20:23 PM EDT
|
My 22 year old son learned a valuable lesson today. It came in the form of an overdraft notice. Seems that his math skills left him four dollars heavy on his balance and he had an overdraft. Naturally the bank did all it could do to try to help their customer. They ran the charge through twice. I guess they figured that the customer would realize on their own that they had an overdraft and come down to the bank to deposit funds to fix the overdraft in the time it takes to run a charge through twice. If you try to use a credit card that is maxed out it usually denies you the sale with an instant and automatic limit notice. A debit card or personal check, though it is run through the same processing machime at the vendor will let you over draw, setting yourself up forat least $60 over draw charges. The bank will not offer you an option to deny sales to overdrawn accounts that use debit cards or checks. Money making scam, pure and simple. If the bank ever makes a mistake on my money, I think I might have to charge them a fee, set by myself and structured so that I can process it multiple times without notification. My own scam. No here's the part where you tell me don't be a dumbass and mind my check book and accounts better. Freaking Cabernet Sovinong. |
|
Umm. you could always go to a total cash payment system and bypass the bank altogether. Your money, their rules - or go find a new bank, or have a savings with automatic overdraft protection linked to your checking. FWIW, I'not had this problem in decades, however my daughter did (ONCE). I went in and sat down with the branch manger, explained the situation, and he reversed the fees no problem ( they like HAPPY customers) Just be polite and very forthcoming, see you can even add a smiley to your conversation 
|
Did you feel, you know, dirty after interacting with a banker? |
Actually some banks like Bank One, Chase, and Bank of America. Depending on the type of account will let you overdraw on debit card transactions for up to $100. Hopefully you don't do it in numerous transactions. Cause the damn fees will just add up. Money making scam???? ABSOFREAKINGLUTELY!!!!! Fees are where a bank makes 60% of thier money. Wether it be account fees or trust fees or servicing fees. Its fees, fees, fees. |
And one asshole with a creditcard sized slice of velveeta can completely fuckup their precious ATM machine so bad that it will cost them several hundred dollars to have the shit scrubbed out with warm soapy water for half a day.  The above post was written in jest and for entertainment purposes only. |
| Some banks offer overdraft protectiong, But no matter how much extra you take out they put a $100 in so they can charge you interest. I was short $1 and they put $100 in, so they charged me interest which was about 50 cents plus the hundred they put in. Still better than getting hit with a $30 fee. One time I had put money in the day before, but everytime I tried to withdraw it said I didnt have anymoney. I tried 3 times and was charged $90!!. I than had a talk with the bank manager and they waved the fees, and I got the overdraft protection. |
I’m certainly not calling you a dumbass  – but lets face it, this could have been easily avoided.Banks are not a public service. As with most other businesses, they exist to make money. They couldn’t survive otherwise. The secret is paying attention so they make their money off someone else and not you. |