Overdraft fees.
Yes I know, what a super lame thing to blog about but, sometimes I need this blog just to make sure I'm not crazy.
I hate overdraft fees. I would rather be declined than pay $33.00. I've asked my financial institution if I could turn off overdraft protection, they said no. I know what your thinking, 'there are many simple solutions to this like watch your account, or keep more money in your checking account, switch banks.' . I do watch my account, but i don't want to check it every morning like i do my e-mail or blog roll, it would just depress me. I usually do keep just enough in my account to cover the bills I have, however I haven't worked in 3 weeks, needless to say I'm as dry as nun's cunt on Sunday. And about switching banks, I'm seriously *this* close.
Comments
today was pay day, and i got a call from them about suspicious activity because i went and bought all the things i needed and spent a buttload of money, and im NOT negative yet.
ppl that HAVE money just dont understand that sometimes u HAVE to go negative, for gas, or food etc.
Join the Class Action Lawsuit against Wachovia Bank, N.A.
Read a letter from the U.S. Congress dated May 27, 2009 against overdraft fees and a threat to the banks about reforming these fees:
Read the FDIC report issued on November 2008 that uncovers a “re-sequencing scam” Wachovia and other banks implemented to rob consumers of their money through overdraft fees:
Read more here:
http://www.badisse.com/?p=82
If you know anyone who has been harmed by Wachovia Bank, send them our way. We going after them for this.
Take a look at this video. England is also suing the banks for this re-sequencing scheme: http://www.youtube.com/watch?v=g6hrmnBqWZY&feature=related
BANK OVERDRAFT FEE SCAM (The Truth)
I am going to make this short and simple. The bank scam to increase overdraft fees works like this:
Scam Ingredience:
(1) Delay posting account balances
(2) Delay posting charges
(3) Re-sequence charges from high to low
THE OVERDRAFT SCAM:
Bank Balance = $100
If you went into overdraft on a single charge and the bank paid the charges in order by DATE (Day#1 then Day#2 charges) even if it re-sequenced them from high to low, you would only pay one single overdraft fee of $35. But by delaying the postings they can batch them together on a single day and then re-sequence them to increase the $35 overdraft fee to $105.
OVERDRAFT FEE $35:
Charges Day#1: $10 + $10 + $5 = $25 (account balance = $75)
Charges Day#2: $65 + $35 = -25 (You only pay one overdraft fee on the $35 overdraft)
OVERDRAFT FEE (by delayed charge postings) $105:
Batched Charges Day#2: $65 + $35 + $10 $10 + $5 = $125 charges (3 overdraft fees = $105)
The delay in posting an account balance is to throw the consumer off in believing they have enough money in their account so they can go into overdarft. Novice consumers don’t understand that the problem is in how the bank is creating the multiple overdrafts from a single overdraft. So, when the bank tells the consumer “it’s your fault for not watching your balance”, the consumer thinks they are at fault because they are at fault for the initial overdraft; but the consumers doesn’t understand how the bank creates the additional overdrafts. Thus, the scam.
Read More at http://www.Badisse.com