this post was submitted on 25 Jan 2024
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Banks need it /s (lemy.lol)
submitted 2 years ago* (last edited 2 years ago) by King@lemy.lol to c/whitepeopletwitter@sh.itjust.works
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[–] Badeendje@lemmy.world 67 points 2 years ago (3 children)

I agree, overdraft fees should be banned all together. Just decline the transaction. This is such horse shi..

[–] Anticorp@lemmy.world 49 points 2 years ago (1 children)

A couple decades ago I opted out of overdraft protection for this very reason, so the bank would just reject the charges, and then hit me with a $36 fee anyways. Fucking criminals.

[–] dangblingus@lemmy.dbzer0.com 14 points 2 years ago

Yup, this is how overdraft protection works at my bank too. Like, what costs money in just saying "transaction declined"? It's not like the banks owe money to themselves on an OD account.

[–] meowMix2525@lemm.ee 7 points 2 years ago* (last edited 2 years ago)

It's even more fun when they transfer from your savings account to cover the overdraft and charge you the overdraft fee anyways.

I encountered this enough with my CU; after kicking my college-induced points-fueled credit card habit; that I just decided to switch to a fee-free checking account with capital one. Physical branch locations be damned.

I could only tolerate so many multiple $3 charges a day, with no specific notification, for a service (a savings transfer) that would be completely free if I were to initiate it. And then "we can refund up to 3 overdraft charges but you should monitor your accounts more closely". lol. Keep your $9 and shove it, I shouldn't have to babysit my fucking credit union to keep their hands out of my pockets as I'm going through a major life transition like this.

Anyways. Capital one's verification process has been a bit of a headache but I'm currently trusting the process.

[–] Socsa@sh.itjust.works 2 points 2 years ago (1 children)

Overdraft is optional on every account I've had tbh.

[–] Patches@sh.itjust.works 4 points 2 years ago

It ought to be defaulted to Off.

I've turned it off every time but I have to ask every time. They don't even tell you it's default to on cause they wanna collect the fees.