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Replies: 18
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Ultimate Clemson Legend [105535]
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Yay!!! Overdraft fees coming back to a bank near you.
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Feb 18, 2025, 2:57 PM
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Honestly, this is an issue that I refuse to have as an issue. Since opening my account in 1993, I have NEVER had an overdraft, or an overdraft fee charged. So it's really not a problem for me.
What IS DEPRESSING AS ####, is the amount of money banks made on these relatively small fees. My bank is $35. So $12 BILLION a year/$35....lemme see....deer lowered.....THREE HUNDRED FORTY-TWO MILLION overdrafts. .....sooooo much makes sense now. That's one for every man woman and child in the US, and change. ### is wrong with people?
https://financialservices.house.gov/news/documentsingle.aspx?DocumentID=409464
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Tiger Titan [51033]
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I was wondering where they went***
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Feb 18, 2025, 2:59 PM
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Ultimate Clemson Legend [105535]
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Self-deprecating humor level = 100. Point.***
Feb 18, 2025, 3:00 PM
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Ultimate Tiger [37104]
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Ring of Honor [23910]
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Re: Yay!!! Overdraft fees coming back to a bank near you.
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Feb 18, 2025, 3:11 PM
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I guess banks weren't making enough money? $35 isn't a relatively small fee when you're broke enough to overdraft your account. This is just gross.
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Paw Warrior [4673]
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Re: Yay!!! Overdraft fees coming back to a bank near you.
Feb 18, 2025, 3:27 PM
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Hope your finances improve soon.
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Ring of Honor [23910]
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It's called empathy. Has nothing to do with my personal finances
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Feb 18, 2025, 3:33 PM
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I guess that's a foreign concept to some people, though.
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Paw Warrior [4673]
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Re: It's called empathy. Has nothing to do with my personal finances
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Feb 18, 2025, 3:36 PM
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Just busting your chops. Relax.
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Paw Master [17534]
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Re: It's called empathy. Has nothing to do with my personal finances
Feb 18, 2025, 3:38 PM
[ in reply to It's called empathy. Has nothing to do with my personal finances ] |
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When I was young I was playing a bunch of songs in a juke box, but one at a time. Apparently I was overdrafting my account. I played multiple songs in numerous transactions. It cost me something like 350.00 dollars in overdraft fees to listen to music that day. I was young and clueless, but that was brutal.
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Paw Warrior [4673]
TigerPulse: 100%
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Re: It's called empathy. Has nothing to do with my personal finances
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Feb 18, 2025, 3:57 PM
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Geez that’s a butt kick.
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Ultimate Clemson Legend [105535]
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There shouldn't be an overdraft. That's YOUR JOB.
Feb 18, 2025, 3:45 PM
[ in reply to Re: Yay!!! Overdraft fees coming back to a bank near you. ] |
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Now I am for banks locking the account upon an overdraft, and that limits you to one fee. I've heard they wait days, and then blast you with however many swipes you've made.
If my card is used someplace else, where I'm NOT, they will lock it in immediately.
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Ring of Honor [23910]
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Re: There shouldn't be an overdraft. That's YOUR JOB.
Feb 18, 2025, 4:08 PM
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I guess it's not as bad if it's limited to one fee, but I doubt that will be the case.
I just don't see the benefit to society of allowing banks to take further advantage of mostly poor people who aren't good with money. They already make a killing off of them in monthly account fees and credit card interest. Financial literacy is severely lacking in this country. I wish every high school student had to take a personal finance course.
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Ultimate Clemson Legend [105535]
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Sadly, a large part of our economy runs on bad financial decisions***
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Feb 18, 2025, 4:47 PM
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Top TigerNet [30146]
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Im not super against overdraft penalties
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Feb 18, 2025, 3:21 PM
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However, the real problem was that banks had (and seemingly once again will have) the freedom to order and hold transactions in such a way that increases the likelihood of there being an overdraft. The added fee at that point becomes a compounding factor in harming those who live paycheck to paycheck.
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Paw Master [17534]
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Re: Yay!!! Overdraft fees coming back to a bank near you.
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Feb 18, 2025, 3:34 PM
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It seems like in this modern era they should just deny the payment if there isn't enough money in the account. That's wild. I think those k redraft fees should be illegal and that the banks shouldn't even put the charge through in the first place.
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Ultimate Clemson Legend [105535]
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I think you should be notified immediately, via text, call, email, and
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Feb 18, 2025, 3:41 PM
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an app notification. Then yes, ONLY ONE CHARGE....rest are declined.
They can lock my card in seconds when it's used at a strip club in Greenville when I just bought gas in Lexington. I know they can halt the card IMMEDIATELY.
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Valley Protector [1475]
TigerPulse: 94%
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Oh they could do that, they just choose not to.
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Feb 18, 2025, 3:52 PM
[ in reply to Re: Yay!!! Overdraft fees coming back to a bank near you. ] |
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The technology exists. If you hit your credit limit they will decline the payment. They can do the same with debit cards if there is not enough money in the account, but then that’s less fee revenue for them.
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110%er [3722]
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Re: Yay!!! Overdraft fees coming back to a bank near you.
Feb 18, 2025, 5:21 PM
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You’ve never had an overdraft? Holy ####. You and I come from different walks of life my friend. Good on you.
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Ultimate Tiger [37201]
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Re: Yay!!! Overdraft fees coming back to a bank near you.
Feb 18, 2025, 5:28 PM
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I overdraft my checking account all the time, but that’s because I’m not a dingdong and don’t keep my money in a checking account. The checking account is for paying bills, when it gets emptied I add some back in out of the MM account that pays me.
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