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For big banks overdraft fees represent 5~10% of revenue, for small banks it's 40~50%
by diordiderot 5y ago
For big banks overdraft fees represent 5~10% of revenue, for small banks it's 40~50%
- blitzar 5y agoIts sometimes 200%+ of profits. First National Bank of Texas (doing business as First Convenience Bank) made over $100 million in overdraft fees yet posted an annual profit of just $36 million in 2020 Giving people money when they dont have any and charging them for the pleasure of not having their rent cheque bounce or be unable to buy any food for a week is hardly a dark pattern. Personally I would do away with overdrafts all together and solve the problem. But that isnt going to be a popular opinion and people would compain that people are unable to buy groceries or pay their rent.
- aidenn0 5y agoThere are some banks that have done shady things like posting all withdrawls for the day before all deposits, which greatly increases the likelyhood of an overdraft.