I'm tired of these banks that steal money from you. How? With their overdraft fees. They place a hold on your checks for 2 weeks so they can get you with overdraft fees. This is how they operate: lets say you have $100 in your account.
In the morning you spend $50. At noon you deposit $500. So now you're thinking you have $550. So in the evening you take out $100 which should leave you with $450 right? Wrong.
Your nightmare begins at midnight when they process everything.
Forget the chronological order of your transactions.
Deductions from your account are placed in this order:
credit first, then largest amount t to the smallest amount, then deposit which they hold.
So the next morning your account that you thought had $450 is actually
drum roll... negative $232.50
What the F!!!
You freak out. There should be a study done with the correlation between illnesses and bank accounts.
How did this happen? Did somebody steal from your account? Yes. The bank did.
To these thieves you had $100. Then you withdrew $100, Giving you a $0.00 balance.
When you made that $50 gas purchase, you thought you were fine. At the time you though you had a $100 balance. What you didn't know is that these robbers are like time traveling bandits. The bank already knew you were overdrafting your account as soon as you pulled in that gas station.
So they add a $32.50 overdraft fee on that $50 purchase giving you a negative $82.50 balance.
Then your automatic bill pay happens to occur the next day when you saw this mess.
All 4 of them happens to be $5 equaling to $20 in bills. So they tack on $32.50 for each transaction. This makes your already negative balance dive down to negative $232.50
What happened to your deposit? The bank held it, because they knew they were keeping it. So when your check of $500 finally clears, and if you haven't touched your account since, your balance is $217.50. They call this banking. I call this stealing.
BS.
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