Wow, 893 comments

Banks run lots of fancy commercials that contributes to their image, but when it comes to working their system, they’re near the top.

This USA Today article titled Anger at bank overdraft fees gets hotter, bigger and louder is all over the Internet. What I think is remarkable are the 893 comments that have been posted. You don’t have to read long, before you run into this one:

“I am disgusted with BofA. Just recently I knowingly used my debit card for a transaction that would overdraw my account, because I believed that the transaction was worth the $35 overdraft fee. It was $115 charge at a pharmacy for liquid Tamiflu. My 8 yr old daughter had a raging fever, and had tested positive for H1N1. What choice did I have?? I didn’t. Little did I know, that BoFA handles transactions from highest to lowest. So, the $115 was taken out first & then the previous 7 very small transactions from earlier in the week. Sadly, I had cash ($789) at home to well cover the expenses, but with the urgent trip to the doctor, missing work, etc, I just didn’t have time to get it to the bank. I did manage to get it to bank 3 days later when my daughter’s fever finally broke. Well, then I have bills hitting my account, water, phone, electricity. This activity turned me over. So, my trip to the pharmacy turned out to be $595 in late fees all within a matter of 7 days. Now, would I make that same decision to make that transaction at the pharmacy that day, yes. Will I continue to bank with BofA. No. I even went to the branch to dispute some of the fees, and the customer rep couldn’t make sense of some of the fees.”

You wonder if banks can make money if overdraft fees are taken away? Wouldn’t that be a a dirty little secret?

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