Oooo! I love Bank Overdraft fees
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Project Fobra
Joined: Feb 2005
Posts: 1,130
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Oooo! I love Bank Overdraft fees
I hear changes are in the making to stop banks from maximizing these fees the way they do.
Hypothetical:
A person wakes up with say $250 in the bank and then goes to McDonalds and buys a breakfast burrito extra value meal with a large sweet tea for simplisity sake say $5.00.. mm mm. oh. Um, then say an hour later this "hypothetical" person stops by Autozone and buys some break cleaner, a spark plug, a quart of oil etc for say $15.00. That afternoon said person goes to lunch with the guys at Subway and orders a turkey sub meal, that he should of had toasted for say $7.00. Later that afternoon, "hypothetical person" withdraws $40 to stuff in a Christmas card for his 2 younger cousins. All of this persons purchases today were with his debit card and totaling $67 all as a debit transaction. Btw this imaginary persons paychecks are deposited in his account this same night at midnight.
Well, if I haven't lost you this far, this made up character is married to this wonderful, loving, beautiful supermodel (this is my story damnit let me tell it the way that I want to!) and not so savvy woman knows that her check will also be deposited on this same very night. Up to the Guitar center she goes and buys a $50 gift card and after that she decides to go to Wal-mart for a thing or two. Then she goes to Publix and buy groceries knowing this won't post until tomorrow... gotta love her! She comes home and the immaginary husband says how much have you spent and she says and I quote "blah blah, too much, blah blah" well, that is all that I heard anyway!
My loving wife likes to spend money, so I keep an extra account with another bank that she doesn't have access to. I mean, she knows that I have it and asks that I don't tell her how much is in it but this times when she realizes what she has done, she says, Hey go get some money from that account to cover the difference so we don't get overdraft fees. We do that, and deposit the cash into the atm of the account we have been using. We get home and the account shows taht we are in the green by $50 now. At midnight we should be good right?
Okay, I don't have a problem with the overdraft fees that she incurred but the way the banks do it, is the total dollar value of overcharges will start with the lowest debit previously pending purchases up to the highest that day to net more overdraft fees. At $35 each, they hit us with 4 totaling $140.
We should have had 2 not 4 overdraft fees, that is the problem that needs to be addressed. My wife and her, spend any money that is or is not in the bank, is another.... Anyone looking for one btw?
Hypothetical:
A person wakes up with say $250 in the bank and then goes to McDonalds and buys a breakfast burrito extra value meal with a large sweet tea for simplisity sake say $5.00.. mm mm. oh. Um, then say an hour later this "hypothetical" person stops by Autozone and buys some break cleaner, a spark plug, a quart of oil etc for say $15.00. That afternoon said person goes to lunch with the guys at Subway and orders a turkey sub meal, that he should of had toasted for say $7.00. Later that afternoon, "hypothetical person" withdraws $40 to stuff in a Christmas card for his 2 younger cousins. All of this persons purchases today were with his debit card and totaling $67 all as a debit transaction. Btw this imaginary persons paychecks are deposited in his account this same night at midnight.
Well, if I haven't lost you this far, this made up character is married to this wonderful, loving, beautiful supermodel (this is my story damnit let me tell it the way that I want to!) and not so savvy woman knows that her check will also be deposited on this same very night. Up to the Guitar center she goes and buys a $50 gift card and after that she decides to go to Wal-mart for a thing or two. Then she goes to Publix and buy groceries knowing this won't post until tomorrow... gotta love her! She comes home and the immaginary husband says how much have you spent and she says and I quote "blah blah, too much, blah blah" well, that is all that I heard anyway!
My loving wife likes to spend money, so I keep an extra account with another bank that she doesn't have access to. I mean, she knows that I have it and asks that I don't tell her how much is in it but this times when she realizes what she has done, she says, Hey go get some money from that account to cover the difference so we don't get overdraft fees. We do that, and deposit the cash into the atm of the account we have been using. We get home and the account shows taht we are in the green by $50 now. At midnight we should be good right?
Okay, I don't have a problem with the overdraft fees that she incurred but the way the banks do it, is the total dollar value of overcharges will start with the lowest debit previously pending purchases up to the highest that day to net more overdraft fees. At $35 each, they hit us with 4 totaling $140.
We should have had 2 not 4 overdraft fees, that is the problem that needs to be addressed. My wife and her, spend any money that is or is not in the bank, is another.... Anyone looking for one btw?
banana republic
Joined: Jan 2008
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It HAS to be BOA. And I may be interested in a trade if it's a newer model. Mine has loud exhaust and has somehow added a few pounds to the chassis. I like the new sporty models, but most are just plain too expensive. I would prefer a newer Fox mustang....Not the older Lincoln town car I currently have. 
Resident TOB Killer
Joined: Apr 2009
Posts: 1,421
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Probably Bank of America... As shitty as overdraft fees are, just keep track of your funds, and don't go spending more money than is in the account, hoping that you'll save it 'just in time'. My mom's a manager at a BOA, and I've never had a single issue with my many accounts there (around 7, including a credit line). I keep track of my finances to a T though, pretty much which definitely helps - along with not having that hypothetical wife. I drive a Mustang, that sucks enough money out of my wallet...
I drive a Mustang, that sucks enough money out of my wallet...
Thread Starter
Project Fobra
Joined: Feb 2005
Posts: 1,130
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WIRE IT HOT!
Joined: Feb 2007
Posts: 273
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I knew it was BofA. Them assholes took over Fleet Bank when I was up north years ago and they charged me so many fee's I told them to F'off. When I moved down here and looked for a mortgage, they BofA only wanted to loan me 120,000. I said "I can't even by a shack for that" I went to Grow FCU (formerly MacDill) and they doubled that easily.
A few weeks ago I have two business checks that were drawn from BofA so I go there to cash them and they tell me that because I don't have an account there that they are gonna charge me $6.00 bucks EACH to cash them. I told the manager to her face that that was BULLSHIT since they were drawn from BofA and that I simply couldn't understand how they manage to keep ANY customers.
(stepping down from the soap box now)
A few weeks ago I have two business checks that were drawn from BofA so I go there to cash them and they tell me that because I don't have an account there that they are gonna charge me $6.00 bucks EACH to cash them. I told the manager to her face that that was BULLSHIT since they were drawn from BofA and that I simply couldn't understand how they manage to keep ANY customers.
(stepping down from the soap box now)
