Seriously, why do banks do this??????

[lchilberti]

So why do banks charge and insufficient funds fee when you don't have the funds???  I have always wondered that.  lol

[cloudsoup]

because they love to screw us any way they can

[Falconer02]

because they love to screw us any way they can

Yup! And the math they use to charge you can really add up if you're not watch your account much.

This topic is actually beginning to be a big deal with banks-- they're losing a lot of customers to Credit Unions which aren't so *bleep* about this. Lots of banks are starting to dramatically reduce their overdraft fees for customers. I read a news article online about it 2 days ago...if I could find it I'd post it. Oh wait...I cant 

[drew4464]

They are getting to be just like the credit card companies. I just closed an account that was this way. Theirr newest gimick was to charge a 35 dollar over-the limit fee and then charge an additional 25 dollars if you account stayed negative for more than a week. Needless to say they also just got bought out by another bank

[hwilliams591]

Even credit unions do this. It is a charge for being irresponsible. What do you want them to do, loan you the money? 

I have a savings account and a line of credit that is set-up to take care of any overdrafts.

[JessieKateRose]

Even credit unions do this. It is a charge for being irresponsible. What do you want them to do, loan you the money? 

I have a savings account and a line of credit that is set-up to take care of any overdrafts.

This. You are being irresponsible. They definitely have the right to charge you for it.

[resebel]

 For sure your bank(s) offers online banking services where you can view your spending 24/7. When you're on the computer most of the time or at least 15mins a day to browse and see what's hot online, there's no way you'll get charged with overdraft fees if you monitor your expenditures at your convenience. They're for sure free and viewable. I'm sure there are some other resources out there wherein you can check your account balance from time to time and all you have to do is to ask your bank about that. It indeed takes a RESPONSIBLE person to avoid unnecessary fees.