Originally posted by alonzo730
I've found that the simplest way to avoid overdraft fees, is to not have overdrafts. It's just all simple accounting. If I don't have the money to buy something, I don't buy it. I don't write checks if I don't have money in my account. It's quite simple. Credit cards, there's a trap.
Originally posted by SaosinEngaged
Using a debit card is ridiculous these days. Although I understand it, I absolutely loathe how I can go online, check my account, and see a number that essentially means nothing.
The number you see online should ALWAYS reflect the amount that's actually in your account and available for use.
I understand that it takes several days for funds to clear, but that transaction should at least visibly deduct from your balance the second you swipe the damn card, since it's all electronic, and then the actual funds will transfer at the appropriate time.
I'm sorry, I work 55 hours a week, going to be starting grad school, will be getting married, etc...I don't have time to carry a journal with me and constantly balance my account when I'm supposed to have an online account that does that for me. It's totally asinine.
So banks can suck it. Glad this passed.
Originally posted by denynothing
My local bank chewed my mom out about overdraft fees, because we deposited a check on Saturday and went shopping on Sunday. On monday they called and us said we were very overdrawn. The reason is that they require 2 buisness days to process the transaction because they have to get the money from the Fed reserve if I remember right. So I guess the moral is you have to wait even after a legitimate deposit.
Originally posted by saltheart foamfollower
BUT, if you can, ask for a check. Cash it at the bank it is written from. If they attempt to charge you, SUE them. They are no longer allowed to do that. About the ONLY thing in the new laws that makes sense.
Originally posted by mumma in pyjamas
reply to post by slt63366
Yes that is right, the struggling banks need to charge overdrafts to keep their heads above water.
THAT'S why they charge overdrawing fees
Thanks for clarifying.