OVERDRAFTS FEES
- Overdrafts fees has been one of the significant part in the overall bank fee
structure.
Because overdraft fees cost Americans over $30 billion per year,
banks are forced by legislation to make customers more aware of their choice
about whether to enroll in overdraft protection programs when applying for a new account.
- The growth of overdraft protection programs and the use of debit card is the
cause overdraft fee epidemic.
The overdraft protection programs, as their name implies, are designed to
protect customers against rejected transactions but the economic reality of
the banks is that they will charge you a fee of $30 or more to cover the overdrawn
charges.
- As for the debit cards: no warning or signals from the banks may lead you to expenses you were not supposed to spend until you check your bank statement and see the fees.
Searching for more profits banks will always be trying to find loopholes in the new laws
concerning to protect bank customers from fees.
Again if you still do not pay your fee and leave the bank, you will find yourself reported
to the chexsystems as risky bank customers and will have problems getting a new account
at most banks.
- BY YOURSELF
The only way to pay your overdrafts is by yourself.
Check your bank statements and learn every details of it and try to convince the bank to
refund your overdraft -nicely ,logically , politely ,without getting emotional .
If you are not built for such behavior, switch to a bank that does not change overdraft fees without penalties.
