Banks Are Making Billions Off Customers Who Overdraw Their Checking Accounts

[ApexV]

Example:... your account has a balance of $500....4 transactions hit at the same time, one for $490 and three other smaller ones totaling $490 dollars. Dirty MF's process the larger one first so they can hit you with an NSF charge on the other three....$35 per pop.

This exactly what the do. Their nightly batch jobs are programmed to create over drafts. It happened to me years ago and told the bank that I'm a computer programmer and knew what they were doing. I was owing like over $400 in overdraft fees. So what did was slowly took out my money from my savings account until it was empty and went to a credit union. Left those fuckers with a -$400+ in my checking and never went back. My credit union will transfer money to your checking if there is an overdraft situation up to 5 times a month before they charge anything.

 

[kdogg3270]

what used to piss me off back in the day was when you had an overdraft, became aware of it, then got hit with another fee from the SAME transaction before you could cover the deficit. Say you realized your balance was -$35.00. You go to pay, and whatever transaction tried to process gets run through AGAIN, putting you further behind. The banks then and slap their fee on top of it.

 

[Ceenote]

I wish i had a owned a bank.. this is one easy but sure way to do sum fucking on sum dumb ass fuckers that get mad cause they have to pay that money back... dumbass u knee u didnt have that much n there, so ole well!!

 

[Coldchi]

banks sapping the life out of the poor and those living check to check with little to no savings.

 

[BDR]

Up until a few years ago banks purposely processed transactions with the highest likelihood to MAKE you overdraft in efforts to charge fees.

They still do that bullshit... That's why it's not encouraged to use the same checking account for paying bills that you use for making purchases.. That's an easy way for the banks to get you..

 

[Aww Skeet Skeet!]

I don't have overdraft "protection". Banks are already a ripoff. No need to give them any more potential money. Just decline my shit.

 

[Mask]

...

 

[playahaitian]

I don't have overdraft "protection". Banks are already a ripoff. No need to give them any more potential money. Just decline my shit.

You are correct...

To be fair I knew many who abused that like it was an extra line of credit and went over every month...

But at the same time if u pay the fee u should be able to do it.

 

[Mt. Yukon]

There was once upon a time in my late teens, early 20s when I did it because a 30 dollar fee was better than them cutting the cable off, or running out of gas until pay day. But once I got a real job, and started paying shit on time it stopped happening. I refuse to believe people who do it, don't know they're doing it, so phuckem... I check my balance every morning so at any given time I know about what I have in allyour accounts.

 

[Helico-pterFunk]

If it doesn't make dollars to those sons of bitches, it doesn't make sense / cents.

Fuck big banks as a staff, record label, and a crew. And if you're down with big banks ... fuck you too.

 

[Helico-pterFunk]

The national anthem for big banks ripping off customers for decades ...

 

[gene cisco]

Banks are run by smart people who take advantage of fools. If a dumb creature can open up one checking account, it can open up 2. One for incoming, and one for outgoing. Any business based off exploiting fools is going to be a major success. People won't read fine print. Won't count their own fucking money. Will setup automatic transactions knowing that money is too tight for that shit. Will allow their children to crawl into Gorilla exhibits...wait...wrong thread. But the point is, some people are just idiots.

Banks and idiots come together. Banks gets paid.

 

[Helico-pterFunk]

Banks are run by smart people who take advantage of fools. If a dumb creature can open up one checking account, it can open up 2. One for incoming, and one for outgoing. Any business based off exploiting fools is going to be a major success. People won't read fine print. Won't count their own fucking money. Will setup automatic transactions knowing that money is too tight for that shit. Will allow their children to crawl into Gorilla exhibits...wait...wrong thread. But the point is, some people are just idiots.

Banks and idiots come together. Banks gets paid.

 

[Ballatician]

Yall should've seen the money we were making before all the regulations. An 18 yr old freshman with a starbucks addiction would get hit with repeated $33 overdraft charges after only overdrawing their account by $1. Banks were making so much money you didn't even have to lend to have a profitable branch. Now banks have found other ways like charging you for checking and other services.

 

[Ballatician]

Banks are run by smart people who take advantage of fools. If a dumb creature can open up one checking account, it can open up 2. One for incoming, and one for outgoing. Any business based off exploiting fools is going to be a major success. People won't read fine print. Won't count their own fucking money. Will setup automatic transactions knowing that money is too tight for that shit. Will allow their children to crawl into Gorilla exhibits...wait...wrong thread. But the point is, some people are just idiots.

Banks and idiots come together. Banks gets paid.

I had a lady once pay me $19k/yr in OD fees, I tried to help her but she was just happy with some reversals of the fees. Shit was cray!

 

[gamersfuel]

i wouldnt call it banks making money... if you dont understand the process of how overdrafting works you probably dont need a bank account and should get some finance lessons...some schools teach you about finances as well as credit but a lot do not.

 

[Non-StopJFK2TAB]

i wouldnt call it banks making money... if you dont understand the process of how overdrafting works you probably dont need a bank account and should get some finance lessons...some schools teach you about finances as well as credit but a lot do not.

Schools don't teach you a god damn thing.

 

[JimJones]

Banks are run by smart people who take advantage of fools. If a dumb creature can open up one checking account, it can open up 2. One for incoming, and one for outgoing. Any business based off exploiting fools is going to be a major success. People won't read fine print. Won't count their own fucking money. Will setup automatic transactions knowing that money is too tight for that shit. Will allow their children to crawl into Gorilla exhibits...wait...wrong thread. But the point is, some people are just idiots.

Banks and idiots come together. Banks gets paid.

I truly don't understand why people have shit on automatic withdrawal, I have not had a problem paying bills in damn near twenty years and I still don't have anything on automatic withdrawal. Every month when I go to pay my bills I get hit with the this account qualify for automatic payment and I skip that shit.

 

[gene cisco]

I had a lady once pay me $19k/yr in OD fees, I tried to help her but she was just happy with some reversals of the fees. Shit was cray!

Nothing these creatures do surprises me. They won't take a few minutes to read fine print, but are willing to spend 60 minutes on hold so they can bitch about the results of not reading the fine print. Banks could put 'you agree that we own your immortal soul and firstborn' into the documents people sign and 50 percent of these people wouldn't even know they put it in there unless someone posted it on Facebook.

 

[IMDATDUDE]

I truly don't understand why people have shit on automatic withdrawal, I have not had a problem paying bills in damn near twenty years and I still don't have anything on automatic withdrawal. Every month when I go to pay my bills I get hit with the this account qualify for automatic payment and I skip that shit.

Shit thats what I do man. Some stuff like car insurance I get a discount for automatic payment. Now I'm not paycheck to paycheck if I was then I would not be doing it. Shit I got my internet, car, phone, electric, and water all on auto pay, damn I didn't even realize I had all my bills on auto, only thing I don't is my credit card bills. I budget at mint.com so I'm always checking my shit too.

 

[Amajorfucup]

i wouldnt call it banks making money... if you dont understand the process of how overdrafting works you probably dont need a bank account and should get some finance lessons...some schools teach you about finances as well as credit but a lot do not.

Then what would you call it? You niggas are funny.

 

[Mentor B]

I used to work for JP Morgan/Chase Bank. During my tenure, I witnessed customers willingly pay over $1000 in overdraft fees over the course of a year.

Sad part?

This was in Watts.

 

[JimJones]

Shit thats what I do man. Some stuff like car insurance I get a discount for automatic payment. Now I'm not paycheck to paycheck if I was then I would not be doing it. Shit I got my internet, car, phone, electric, and water all on auto pay, damn I didn't even realize I had all my bills on auto, only thing I don't is my credit card bills. I budget at mint.com so I'm always checking my shit too.

I feel ya fam on the discount you get for auto payment..I pay my insurance all at once which is a bigger discount than the auto payment you receive but I know we all not able so I feel you. The problem with auto pay also is if you are charged for some shit you should not have been, creditors don't do refunds they give you credit and sometime that shit is not enough for someone whom need that money to pay for other shit. What good is having a $100 credit with your electric company because you were over charged or charged incorrectly for some shit and you need that $100 to buy food.

 

[Flawless]

These poor victims spending more money than they have

 

[IMDATDUDE]

I feel ya fam on the discount you get for auto payment..I pay my insurance all at once which is a bigger discount than the auto payment you receive but I know we all not able so I feel you. The problem with auto pay also is if you are charged for some shit you should not have been, creditors don't do refunds they give you credit and sometime that shit is not enough for someone whom need that money to pay for other shit. What good is having a $100 credit with your electric company because you were over charged or charged incorrectly for some shit and you need that $100 to buy food.

Shit yeah I do pay in full on auto and phone but I have those as auto pay so 6 months on auto and once a year for the phone. You know I see where you coming from and I might just change my way of thinking never ran into that issue but realize it can be pretty common.

 

[jagu]

It's very easy to avoid this. Don't doend more than what you have in the bank.

If you know that the bank has a plan to steal your money, have a plan to beat them at their game.

 

[RoadRage]

Capitalism = capitalizing off of people mistakes.. This is why it pays having dumbed down people who are greedy over spenders... Sounds like whats going on in the good ol USA!