It is a not a funny Ha ha ordeal to have a $30 or $35 overdraft fee pulled out of your account when you over draw. Granted, there is protection that can be had on most debit accounts but why can you over draw to begin with? All debit accounts are pre-paid. There is no "special" thing about a debit account. I am retired and get Social Security and use a debit card that was issued by SS. If I want to buy something that costs $20.01 and all I have in my debit account is $20.00 I cannot have it. The card will not go through. But, with other banking systems like Wells Fargo, Wachovia, ect. they let you go until you not only owe a bunch in fines plus your first born male child. Even a Walmart card cannot be overdrafted. Yes, I know that the banks did around 51 Billion is overdrafts last year but come on, when is some agency going to step in and call it what it is. Loan Sharking. If you buysomething and you overdraft by 10 cents it costs 30 beans for the 10 cent bad deal. Sounds illegal to me. Or, at least it should be.
I understand how you feel. The fees that banks are charging is one of the reasons so many people are moving their accounts to cards like Netspend and Walmart. Paying $35 fee for a $10 purchase hurts.
I agree. My account is set up so that if I make a purchase with my debit card and there is not enough in there to cover it the money is transferred from my savings account but I'm still charged $5.00 as an overdraft fee. I called about it and was told it's policy meaning I should have read the small print.
