Saturday, May 12, 2012

Ridiculous Bank Fees

Occasionally, everyone finds themselves in a situation where their checking account may not have enough funds to cover an expense.  That's why it's handy to have overdraft protection.  Simply put -- you have a second account with money in it that automatically covers those expenses when you are overdrawn.

It worked fine with my old bank -- the funds simply transferred automatically into the depleted checking account.

Now that my bank has been purchased by a much larger bank, I can still get the overdraft protection -- BUT -- it's not free.  My new bank charges a 12.50 USD fee each time to transfer my own money from one account to another.  If you don't have overdraft protection and you don't have enough funds to cover an expense -- the bank charges 35.00 USD -- which is normal.  However, to charge a customer to transfer his/her own money is gouging.

I think it's time to find a friendlier bank.

1 comment:

Servall said...
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