2 ms·
I dunno, it's pretty slimy to me if I go $3 into overdraft and then the bank denies that transaction and instead hits me with a $30 fee. Now I'm $30 in the hol
by mikepurvis 3y ago
I dunno, it's pretty slimy to me if I go $3 into overdraft and then the bank denies that transaction and instead hits me with a $30 fee.
Now I'm $30 in the hole and I didn't even get my cellphone bill paid, just a fee for the privilege of having tried to do it.
- jjeaff 3y agoor even slimier, prior to the federal credit protection act, you could have $0 in the bank, then deposit $10, then later in the day, make 10 transactions of $1 each. and they would rearrange the transactions, putting the deposit in at the end of the day and the charges right when they happened, and charge you TEN separate overdraft charges for those 10 transactions at $35 each. then, your balance at the end of the day would be -$340. after which they would charge you an additional overdraft fee that day and every day following for a negative balance penalty. and then maybe an additional charge every once and a while for "extended negative balance" as well as charge you a monthly fee since you don't qualify for free checking that month since you have a negative balance. AND the checking account fees would also create an overdraft charge. it was such an awful racket that was only allowed to go on as long as it did because it mostly just affected poor people.
- mikepurvis 3y agoImagine being the engineer who implemented that reordering logic. How would your even sleep at night having built a thing that so obviously existed solely to prey on the vulnerable.