A $35 Pack of Gum? - Truckers' Trucking Forum

Baack · **^ Top** #1 3 Weeks Ago

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So banks make their money on overdraft fee's
Where will they get the lost revenue from if this is taken away?
My feelings are leave things the way they are
Punish the few who make mistakes, not the many who keep a clean account

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How Will Banks Replace Lost Overdraft Fees?

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http://money.aol.com/article/bank-of-america-backpedals-on-overdraft/682501

A $35 Pack of Gum? Congress Takes Aim At Debit Card Overdraft Fees

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Anyone who has ever charged a 25-cent pack of gum on their debit card only to discover later that the gum would cost $35 because the purchase overdrew their bank account can understand the hazards of overdraft fees.

An estimated 50 million people can relate to that frustration – that is how many people overdraw their bank account every year, according to the Center for Responsible Lending. In 2008, consumers spent nearly $24 billion in overdraft fees, a 35 percent increase from 2006.
Lawmakers on capitol hill today said banks should be banned from the practice of of automatically enrolling consumers in overdraft programs that charge fees for letting customers to continue to make purchases without sufficient funds in their accounts. Instead, banks should give consumers the choice to opt in to these programs if they want

http://abcnews.go.com/Politics/35-pa...ory?id=8958193

msmspilot · **^ Top** #2 3 Weeks Ago

This has been in the news ever since this country went on a banks are evil rampage. The $30-35 overdraft fees are nothing new. It was $35 to overdraft a check on my first account in the early '90s.

People just don't keep up the ledger as well with debit cards.

kajidono · **^ Top** #3 3 Weeks Ago

They've taken it to the point now that they will delay deposits and hit your account with charges just to create the overdraft fees. And it's not $35 at a lot of these banks. It's $35 for going in the hole, then $35 for the $35 they just charged you. Double overdraft on every charge.

It's outright theft.

Hardlyevr · **^ Top** #4 2 Weeks Ago

Geez lets blame the big nasty bank because people are unwilling or unable to keep track of their money.
Perhaps banks should just flat out refuse to offer services or raise deposit minimums to high levels to exclude the people that can't keep track of their money.

kajidono · **^ Top** #5 2 Weeks Ago

It'd be nice if the banks could keep track of their own money too.

msmspilot · **^ Top** #6 2 Weeks Ago

Quote:

Originally Posted by kajidono

They've taken it to the point now that they will delay deposits and hit your account with charges just to create the overdraft fees. And it's not $35 at a lot of these banks. It's $35 for going in the hole, then $35 for the $35 they just charged you. Double overdraft on every charge.

It's outright theft.

I don't know about the double overdraft fees, but I know that the banks I have used had it plainly posted how deposits went in, and I knew when my funds were guarenteed to be in the account. I planned accordingly and never bounced one.

If you're talking about the credit card companies, differnt story. They're so corrupt that I won't do business with any of them for any reason. Or the mega banks.

Stick with a local bank and you just don't have as many problems.

LooneyTune · **^ Top** #7 2 Weeks Ago

Ummm the one thing that really bothers me about this? The man had to use his debit card to buy a 25 cent pack of gum? If you don't even have 25 cents to buy some gum and have to use a debit or credit card? Go with out the gum.

roadkill439342 · **^ Top** #8 2 Weeks Ago

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Originally Posted by LooneyTune

Ummm the one thing that really bothers me about this? The man had to use his debit card to buy a 25 cent pack of gum? If you don't even have 25 cents to buy some gum and have to use a debit or credit card? Go with out the gum.

Why?
I don't carry cash..........not at all. I purchase EVERYTHING on my debit card, even the $.89 drink "re-fills" at the truckstop.
Much safer than carrying cash, plus I don't worry about "misplacing" that receipt between purchase and tax-time.

Working Class Patriot · **^ Top** #9 2 Weeks Ago

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Originally Posted by msmspilot

This has been in the news ever since this country went on a banks are evil rampage. The $30-35 overdraft fees are nothing new. It was $35 to overdraft a check on my first account in the early '90s.

People just don't keep up the ledger as well with debit cards.

Wells Fargo tried to charge us for non-use of a credit card last year.......Go figure.....

msmspilot · **^ Top** #10 2 Weeks Ago

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Originally Posted by Working Class Patriot

Wells Fargo tried to charge us for non-use of a credit card last year.......Go figure.....

Another reason I will not do business with credit card companies. They're scum and they're stupid.

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