07.30.09
The Banks got game…Pimpin’ Pimpin’
We have a credit union here that has a nice little feature that most banks have, overdraft protection. If a a transaction comes in for more than you have in your account, they transfer from your saving the balance and charge you $5.0o. This sounds great until you have an item come in, they transfer the money, but the transfer fee causes your account to become overdrawn anyway! This is just wrong. How about this one. If you have just enough money in savings to cover the balance of the item that will overdraw your account, but you don’t have enough to include the $5.00 fee, they don’t pay the item and charge you $25.0o.
They counter by saying we paid it for you. It was a debit card transaction. It would get paid regardless except they would still charge you $25.00. Now, you know that no “person” is manually handling these transactions. It’s all done by computer, so how is it costing the bank anything to justify charging customers fess that keep going up. Am I shirking responsibility? No. I should have been more careful, but don’t offer me a service that is designed to keep padding your pocket as you act like your doing me a favor. This is why I don’t bank with them regularly.
We need serious banking reform.