http://www.businesspundit.com/us-banks-to-collect-385-billion-in-overdraft-fees-this-year/ Entrepreneurship, Startup Companies and Business Philosophy Fri, 03 Feb 2012 07:09:48 +0000 hourly 1 http://wordpress.org/?v=3.3.1 http://www.businesspundit.com/us-banks-to-collect-385-billion-in-overdraft-fees-this-year/comment-page-1/#comment-18068 GARY Thu, 15 Oct 2009 19:01:34 +0000 http://www.businesspundit.com/?p=13219#comment-18068 The banks are now taking to much, hold small debits and put the large one up first to create multiple O/D fees. Auto deposit allows them to hold debits as long as possible to receive the large debit that will over draw the account then they "post" (all of) them as overdrawn, charge the fee after they hold the deposit for 24 hrs then release it and collect their monies. It's amazing to me how I have so many "pending" little fees sitting there when I have money in the account to cover them and they all come out the night my deposit goes in. The deposit doesn't cover them because they hold that until the next day The banks are now taking to much, hold small debits and put the large one up first to create multiple O/D fees.
Auto deposit allows them to hold debits as long as possible to receive the large debit that will over draw the account then they “post” (all of) them as overdrawn, charge the fee after they hold the deposit for 24 hrs then release it and collect their monies. It’s amazing to me how I have so many “pending” little fees sitting there when I have money in the account to cover them and they all come out the night my deposit goes in. The deposit doesn’t cover them because they hold that until the next day

]]> http://www.businesspundit.com/us-banks-to-collect-385-billion-in-overdraft-fees-this-year/comment-page-1/#comment-15951 Pro2Pro Network Mon, 10 Aug 2009 18:53:47 +0000 http://www.businesspundit.com/?p=13219#comment-15951 Overdraft fees are ridiculous, especially when considering our current economy. I find it amusing that people who don't have money in their bank accounts to cover their expenses are charged a fee. They don't have money. I realizes this is a deterrent, but the penalties are outrageous. I know that my bank, which will remain nameless, charges $35 each business day after your initial overdraft. If they want to charge people a fee, make it reasonable, like $5-10. Overdraft fees are ridiculous, especially when considering our current economy. I find it amusing that people who don’t have money in their bank accounts to cover their expenses are charged a fee. They don’t have money. I realizes this is a deterrent, but the penalties are outrageous. I know that my bank, which will remain nameless, charges $35 each business day after your initial overdraft. If they want to charge people a fee, make it reasonable, like $5-10.

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