Banning overdraft fees: Cory Booker's new idea to tackle big banks
18 replies, posted
https://www.vox.com/2018/8/2/17640068/cory-booker-bank-overdraft-fees
Whew, I used to not think that much about overdraft fees but when you look at the statistics of who they affect, they really are one of the ways it can become really expensive to be poor.
yeah, lord how many times a credit card payment got taken out earlier than supposed to, leaving me with a big negative balance when I was only short a couple of dollars.
I swear to christ Bank of America will actually see that your account is low and HOLD payments before approving them JUST so it tricks people into overdrafting
It's fuckin lying is what it is. They intentionally misrepresent the amount of money you hold just to fucking screw you over.
wasn't this something wellsfargo actually did?
This happened to everyone I know who used BofA. The only time my bank doesn't get things right is when I buy fuel, it usually takes a day or 2 for the $1 pre-auth to come through as the $35-50 I spent. Everything else, instant. This probably has more to do with the gas station payment system than my bank, as some show up on my statement right away.
Do you guys have purely incompetent banks, or purely asshole banks? I can't figure it out.
Here payments show up within about 5 seconds of me making them.
If any payment shows up on my transactions online within less than a day or two, it's a fluke. Even direct deposits from work have to be put in on the employers side by Wednesday for them to hit workers banks by Friday.
Hell, we still use checks here for some reason.
when i was trying to sort out a problem i was having receiving a payment from america the guy at my bank (TSB, utter shithole bank btw) that the USA is about 15 years behind the UK in terms of banking tech. he was saying a simple payment in the UK is usually made entirely electronically but my payment from an american corporation would've had to be made physically by check for absolutely no reason, making it practically impossible for them to trace
payment eventually showed up tho!
yeah, it's already dead in the water.
Use a credit union.
Yeah, Wells Fargo and BoA are pretty consistently shady.
or use one of the many online banks that will just not overdraft you
i use simple, here's their fee schedule
https://i.imgur.com/nnvp05A.png
Both, they're out to screw you over as many ways as possible, they use dirty tactics to achieve this and you get fees you didn't even know you signed. On the other hand when our account was broken into and hundreds of dollars was drained with the purchase of dozens of iTunes gift cards, the Bank apparently did not see anything suspicious about this and approved the transaction. Then they stonewalled us when we tried to get help, the only reason we got around that was because a friend of a friend worked at the bank and was able to get the right people to fix it.
Its actually a very common practice in the United States where they'll shift and maneuver payments made until you hit 0 before you actually are supposed to. Its one of the reasons why, even with a Credit Union that doesn't screw me, I do all payments manually. I just don't trust anything.
Both. Suntrust is pretty good (And by pretty good I mean too good sometimes) at catching things that shouldn't be possible. Like if my card is used 250 miles from me 10 minutes after I've used it, they instantly nuke your card. Completely unusable, and they send a new one in the mail, which takes a week or so. But they've also done it by mistake once. Go 500 miles to Tennessee for the eclipse and bam, card canceled. What if that card was the only access to money I had and I needed it right then
But on the flip side, Almost every purchase shows up on the statement within seconds. I can log on and look and it'll be there before I even get home. Unless the account is low then suddenly they start getting held for a couple days and then if you aren't on top of shit yourself you'll overdraft SO easily
Nice to see a fellow Simple user here. Only two gripes is you can't see pending ACH transactions and their debit card's are white and get dirty.
One would think that after the 1920s then after 2008, no one would ever trust a bank again in America.
