posted on Jan, 20 2010 @ 08:09 AM
Banks do that all over the world , here in the UK the Banks were taken to courts over these 'unfair charges' , even though they were in the terms
and conditions ( which most people don't read and the Banks LOVE that attitude), but here in the UK it went all the way to our new supreme court but
was rejected in favour for the banks ( money talked there I think).
Best thing to is what I'm going to , try and get ALL your direct debits going out 3-4 days AFTER you get paid ( one of my direct debits tried to come
out the day BEFORE I got paid even though I specified to the company AFTER, they still tried to take it out before and said to me, thats the way
direct debits work, they start processing 2 days before the payment is due , - to get the ball rolling, and with automated systems running full speed
to grab as much money as they can, its obvious the ones to suffer is you), and then take out the remainder of your cash, that way you shouldn't go
overdrawn unintentionally and all of your bills are paid on time.
Banks label them as fair usage charges even though it was £35 (about $50) or so for a letter to tell you you've gone overdrawn and yet only pay you
minimal when you've got a positve balance.
Trouble is with that is if your dependant on your overdraft then the banks have got you by the short and curlies.
Positive thing is if everyone does it then the banks know who's in charge.
Banks love to screw their customers over every chance they get, but since they had a beating with the courts they have redeuced this £35 charge to
£5 charge every day your overdrawn, so if by your or their design you go overdrawn a week after your paid by a couple of quid of dollars then your
liable for a charge of £70-80.
So work out your finances as best you cam cut down what you can, buy only what you have to, and take any spare cash out if you can.
Edit to add, and as for finding any bank that doesn't do any overcharges , erm, snowball in hells chance springs to mind.
[edit on 20/1/10 by DataWraith]