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Money-lenders have been rightfully reviled for millennia, and will always try to bleed us dry if our legal systems don’t constantly fight back.
Bleed us dry? Don’t spend more than you have. Everyone wants to claim they are the victim, ie school loans, but those are things that are agreed upon before taking that loan, or using that service. If you don’t like overdraft fees, don’t over draft. Clearly you shouldn’t be getting a $3 coffee if you have zero dollars in the bank. I’m with the banks on this one.
David: three consecutive online-merchant errors in December, caused me to OD. Not my fault. I had OD protection and a savings account to back it up, but I had to fight $113 in fees.
Over half the OD fees are similar errors. Plus, in my case–they returned all two of the three checks and I added up fees with the merchants.
The overdraft cost to the bank is almost nothing. When the Armed Forces Bank made 94%of its 2022 profit from OD fees….something’s wrong.
Don’t be so arrogantly flippant about this clear abuse.