Much worse, overdrafts are a mean product! Especially in the UK variety. When I was an intern in the UK I once handed over a cheque a day before I got the cash.

Much worse, overdrafts are a mean product! Especially in the UK variety. When I was an intern in the UK I once handed over a cheque a day before I got the cash. The cheque bounced, I was forced to pay 25 GBP in overdraft fees and the person who had the cheque still did not get their money. i.e. No one benefited except the bank, i.e. they did not provide any service what so ever yet still charged 25GBP for it. Overdraft fees like that are evil as they are very much a profit center on the poor. The Finish system of just not allowing the transaction is much much better.