Bank Fee's

[kat (1)]

I was doing research on this subject as I was looking to start an online petition against the banks charging overdraft fee's to people, specifically those whose checks are directly deposited into their bank accounts. I think it is unjust to charge a person 30 plus dollars for over-drafting their bank account, especially when it is by a few cents even when your check is going into your account the very next day.

(Hell, even a gas station clerk would let you slide on that when paying cash, we don't see them hunting us down for 2 cents plus an overdraft fee but these big banks can get away with it!)

So I found this online petition, please show your support by clicking on the link below and signing the petition:

http://www.petitiononline.com/radron/petition.html

[Hellion]

Banks are nothing but loan sharks and crooks,this makes me want to hide my money underground.

Pretty much they are organized criminals. Stealing taxpayer money,I'll sign it when I get home thanks for the info

[Slogo]

signed

[StrayBullet42]

Signed.... Twice (don't ask) lol

I think I'll start a petition to have banks provide a mandatory overdraft protection for all accounts with direct deposits.

Lut's get these white color criminals

[KatRN05]

This is why I keep my money with a credit union. If my checking account is overdrafted, I don't get charged, they just take money from my high yield account or my line of credit and put it in my checking. At least, I think that's what they do. I need to pay more attention.

[SomeDanGuy]

Well, the good news is that the recent credit reform legislation already addressed this issue. At least for debit cards, but I think for checks too? All these "overdraft" protection programs are now opt-in instead of automatic so you no longer can get a $35 fee to cover your $4 latte that put you over, for example.

[Onyx]

Well, the good news is that the recent credit reform legislation already addressed this issue. At least for debit cards, but I think for checks too? All these "overdraft" protection programs are now opt-in instead of automatic so you no longer can get a $35 fee to cover your $4 latte that put you over, for example.

I wish this were true.

They do still charge you if it's a check or if it's an automatic withdrawal (even if they return the check or refuse the withdrawal).

I believe the only thing the legislation covered is that they have to explain the fees and I don't think they charge a fee if it's from a debit card transaction because the card just will no longer allow you to overdraft and the transaction will be refused.

It's sad because the folks who can afford it the least are the ones who get hit with all these fees.

[Soulrev]

Take me for example. My wife is in Iraq. I can't control when she wants to pull money out of the account. On my way back from Colorado I stopped and made 10 transactions between gas/food stops. I was charged 30 dollars for every transaction because my wife accidentally took my travel money. That's 300 dollars. Just in overdraft fees. Almost half of the purchases were less than 15 bucks.

[TheOsakaKoneko]

I need to pay more attention.

If you do this, you don't get fines.

End of story.

[Destroit]

You guys already realize that this IS a law right? Like...it's already your rights to be able to sign a paper in order to get you out of overdraft fees...? Whoever started this petition clearly didn't do research . Obama signed this into law earlier this year, possibly last year. The only thing it doesn't apply to is credit unions I believe, but if you go into your bank TODAY and sign the waiver than they cannot charge you for overdraft fees. If you try to make a transaction though it will say "declined" at the register.

I still think it's funny that someone started a petition trying to get something to be written into law that is already written into law .

You guys already realize that this IS a law right? Like...it's already your rights to be able to sign a paper in order to get you out of overdraft fees...? Whoever started this petition clearly didn't do research . Obama signed this into law earlier this year, possibly last year. The only thing it doesn't apply to is credit unions I believe, but if you go into your bank TODAY and sign the waiver than they cannot charge you for overdraft fees. If you try to make a transaction though it will say "declined" at the register.

I still think it's funny that someone started a petition trying to get something to be written into law that is already written into law .

[Destroit]

This is why I keep my money with a credit union. If my checking account is overdrafted, I don't get charged, they just take money from my high yield account or my line of credit and put it in my checking. At least, I think that's what they do. I need to pay more attention.

You can get overdraft protection that works exactly the same. And if you reached the bottom of that overdraft protection account, it will bounce. The overdraft protection account is also technically a line of credit and you're probably paying at least 12% APR for keeping it.

You can get overdraft protection that works exactly the same. And if you reached the bottom of that overdraft protection account, it will bounce. The overdraft protection account is also technically a line of credit and you're probably paying at least 12% APR for keeping it.

[pleasurekatzen]

You guys already realize that this IS a law right? Like...it's already your rights to be able to sign a paper in order to get you out of overdraft fees...? Whoever started this petition clearly didn't do research . Obama signed this into law earlier this year, possibly last year. The only thing it doesn't apply to is credit unions I believe, but if you go into your bank TODAY and sign the waiver than they cannot charge you for overdraft fees. If you try to make a transaction though it will say "declined" at the register.

I still think it's funny that someone started a petition trying to get something to be written into law that is already written into law .

While this is true, I know it will not affect my bank account until August 15th of this year. I've heard similar things from people with accounts at other banks as well. So technically, you CAN be charged overdraft fees until that point. Just a heads up

[torn asunder]

you know what? here's a novel idea - how about everyone complaining about these overdraft fees try not going to the club for a month or two, taking that $100, putting it into a savings account, and linking their checking account to pull from the savings?

banks are in business to make money, you can't really fault them for it, just take personal responsibility & back yourself up. don't give them the opportunity to make any money off you...

sorry, not trying to be harsh.

[TheOsakaKoneko]

you know what? here's a novel idea - how about everyone complaining about these overdraft fees try not going to the club for a month or two, taking that $100, putting it into a savings account, and linking their checking account to pull from the savings?

banks are in business to make money, you can't really fault them for it, just take personal responsibility & back yourself up. don't give them the opportunity to make any money off you...

sorry, not trying to be harsh.

[Shaun]

you know what? here's a novel idea - how about everyone complaining about these overdraft fees try not going to the club for a month or two, taking that $100, putting it into a savings account, and linking their checking account to pull from the savings?

banks are in business to make money, you can't really fault them for it, just take personal responsibility & back yourself up. don't give them the opportunity to make any money off you...

sorry, not trying to be harsh.

Agreed, if my account drops below 300 its like I'm broke as far as I'm concerned. Only because I have automatic payment set up for just about everything though. Before I started doing that I would get burned as least once a year because "I forgot" something was coming out. Its really not that hard once you get used to it.

I actually just got an opt-in notice from charter one. According to the letter they can still overdraft for automatic payments and checks. Everything else will be declined however unless I fill out this handy form they sent me. As if! They were even nice enough to list all the benefits of being able to overdraft . Anyway I tore it up.

Edited June 16, 2010 by Shaun

[pleasurekatzen]

Agreed. Being responsible with your finances as well as knowing your banks policies can save you a lot of hassle in the long run. Keep track of your account, but also, don't be afraid to ask questions if there is something you don't understand.

A lot of people feel intimidated by financial institutions for one reason or another. For these people? Try getting to know the manager at your local branch. Developing a good relationship with this person can open the doorway to speedier resolutions to problems, as well as direct and helpful answers to any questions you might have. I know it's done world of good to improve quite a few peoples perception of their particular bank, myself included! Once you see that they aren't just a bunch of numbers or a seemingly apathetic operator at a customer service phone bank and that there can be an actual person who does care about helping you with your account and answering questions, it can make a world of a difference

[Soulrev]

Yeah I have a credit union and they are awesome. When this recent incident happened and they took all that money in overdraft fees, I called and explained that my wife is in Iraq and she took the money without my knowledge.. So they looked at my account and saw that, and they gave me my money right back. Sometimes just talking about your situation, helps, too.