New law on ATM overdraft fees goes into effect this weekend.

reply to post by gaiagirl


Time for you to set up a limited liability corporation and go to work for yourself.

Contract out your work as a contractual employee and set up some clients.

Yes, I use to work for a small land development company and when it came to my EVAL, I had done exactly that. They did not want to play ball so I set up a couple of contracts and walked out with NO notice. Funny, after about 3 weeks they came to me and asked me to come back. They offered a large increase in pay on the contractual end. More than I was making, but I wanted to be my own boss. Told them to take a hike.

Time to be our own bosses peeps. Screw the contracts that employment sets up on through our government.

Originally posted by mothershipzeta
Bank customers get break from ATM overdraft fees

Excellent article!!! It's a welcome article from all the other articles here on ATS.
Good job!!!

I don't have a bank account at a bank, I don't trust them. I do have a prepaid VISA from WalMart that I use for bills and saving. I can't go over, it won't let me!

I never understood why a bank would allow a transaction to go thru when they KNOW there are no funds? You can't write a check for an account with not enough funds, check systems will make sure of that, yet they will allow a debit card to go thru where there are no funds? The fees they charge are insane and nobody is perfect, most people I know have overdrafted over pennies or a few dollars.

My ex put the wrong change amount on a check to Bank of America and it caused and overdraft fee spiral. We got hit with a lot of OD fees, each item that came in after that we got a charge on and they were all bills for the month so it was a lot. It was all over not even 10cents! I was so angry that just because my ex made a mistake over 10cents it got us an insane amount of fees. I realize it was his mistake but was it worth hundreds of dollars?! It's a scam! We closed the account after we PAID the fees and went to a new bank. It was a local run bank and they were awesome. Their polices for overdraft were amazing. It was a great bank and we stayed there for years, my ex still has the account. If you were going to over draft they would try and contact you for up to 5days to let you know and they wouldn't put it through. If they knew you deposited a check every week or at a certain time they would hold it until then for you. I was amazed at how they worked with their customers. This is probably the nicest bank I have ever dealt with and I don't personally like banks. I however did the banking after that



In some ways I feel some deserve over draft fees, they know they are putting something through they shouldn't and therefore should be charged. I have a friend who pays OD fees montly but it doesn't phase her. I think she is a little nuts personally. Her thought is it will only cost her an extra 30 bucks or so for her purchase so it's no big deal. I mean who has that logic?! Well sadly, a few from what I have seen.

Originally posted by IgnoreTheFacts
I am so glad I know how to do basic math and am also capable of exercising the very small amount of personal responsibility required to stay away from messes like this in the future.

More and more legislation is passed to protect people from their own ignorance. Pretty soon, I am going to have a government rep on duty in my bathroom in order to ensure I wipe my ass correctly.

Sure, there are situations where overdraft fees can be a problem (such as theft of personal information leading to unauthorized access to one's account), but they are few and far between compared to the bulk of overdraft fees. If I was a bank, yeah evil me, I would do the same thing they were doing. And that is making a profit of people's ignorance. Since there is no shortage of ignorance, there is no shortage of profit.

Oh government!!!!!! Swoop down and save me so I don't have to think for myself!!!!!!!!

Again, the point is not that people are ignorant or stupid or don't know math. The point is that many people never asked for an overdraft 'service' nor did they want one. It is the banks that are being irresponsible by forcing overdrafts on the public. What's more, many of these overdrafts come from the businesses, not the consumer. IE, many businesses will charge your account more (I've seen them charge twice as much at Chili's) than the purchase price to make sure you can afford to pay it all, or whatever 'official' reason, and then take off the excess after it clears. BOA is notorious for allowing that, too. It's just a bunch of rich pricks working together to get richer, and people like you think just like them