GoFuckYourself.com - Adult Webmaster Forum - View Single Post - U.S. banks make 38 billion from overdraft fees

Mr. Billy · 08-10-2009, 01:11 AM

http://www.reuters.com/article/newsO...5790YM20090810

I finally changed out my bank for a credit union. When I was with the bank, they would allow you to make purchases and ATM withdrawals even though your balance was zero and you were not aware of that fact. Then they would charge an overdraft fee on every transaction.

One weekend I thought I had more money than I did and I assumed the transactions would be declined if there was no money. So I made 5 or so small purchases with my card. When I got my statement I was livid. They charged me well over 100.00 in fees for 5 purchases that might have totaled 35.00 in all.

I was furious. I called them and the customer rep smugly responded that it was up to me to know my balance and that they allowed the overdrafts as a convenience to the customer.

Now I'm with the credit union. Need I say more.

They stand to make 38 billion usd in overdraft fees, and much of it coming from their less affluent customers. Now that's what I call customer service! Not!

08-10-2009, 01:11 AM
Mr. Billy Confirmed User Join Date: Feb 2005 Posts: 467	U.S. banks make 38 billion from overdraft fees http://www.reuters.com/article/newsO...5790YM20090810 I finally changed out my bank for a credit union. When I was with the bank, they would allow you to make purchases and ATM withdrawals even though your balance was zero and you were not aware of that fact. Then they would charge an overdraft fee on every transaction. One weekend I thought I had more money than I did and I assumed the transactions would be declined if there was no money. So I made 5 or so small purchases with my card. When I got my statement I was livid. They charged me well over 100.00 in fees for 5 purchases that might have totaled 35.00 in all. I was furious. I called them and the customer rep smugly responded that it was up to me to know my balance and that they allowed the overdrafts as a convenience to the customer. Now I'm with the credit union. Need I say more. They stand to make 38 billion usd in overdraft fees, and much of it coming from their less affluent customers. Now that's what I call customer service! Not! __________________ Last edited by Mr. Billy; 08-10-2009 at 01:12 AM..