America's Out-Of-Control Overdraft Fees - If You Don't Know, Now You Know | The Daily Show
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- เผยแพร่เมื่อ 17 ส.ค. 2022
- In the 90's, consultants pitched the idea of overdraft fees and they've been causing Americans problems ever since. Here's a look at the history of these fees and how they continue to screw people over in another edition of If You Don't Know, Now You Know. #DailyShow #Comedy #IYDKNYK #TrevorNoah
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I had a music student once who’d bounce checks often. My bank would try to cash the check once, get an NSF, her bank would charge her, then my bank would try again and again within a 24 hour period causing the student’s single parent to receive multiple NSF fees from her bank. Also my bank would charge me for each time they attempted to cash the check which the student would eventually reimburse. I found this so awful because clearly this single parent was trying the best she could, working full time, getting her kid music lessons (the kid eventually went into music education). When I figured out what was going on, I went to my bank and said you need to stop causing economic harm on this family and preying on their circumstances. The in-house banker didn’t know that I could request they stop resubmitting bounced checks for payment. Fortunately, I had called the bank’s central office to find out how to do it then coached the banker on how to do that. The banker was floored that anyone would go out of their way to make sure that another’s account wouldn’t be charged all these fees. We have to look out for one another and find ways to be compassionate. (And yes, before someone troll-dumps on me, I did give them some free lessons and forgave a fee or two.)
What would the world be without teachers like yourself? I dare not even think ...!
The world would be a much better place if we have more people like you
This world needs more people like you 💜
Why doesn't America have laws against such practises?
I think in almost all countries in Europe such behaviour by the bank would be illegal. You get a fee of some Euros for a declined payment but then they can't just try over and over again and charge you each time, that's ridiculous...
I read all those replies. I am surprised nobody suggested you only accept cash.
Continuing to accept checks knowing they might bounce is just playing by the bank's rules.
I left Bank of America years ago when an agent literally told me with a straight face that the reason they do not run charges in chronological order is because they want to push through the biggest transaction first because it is clearly "the most important" and therefore must be paid. This of course was bs. They do this because the biggest charge is the one most likely to overdraft, which causes all the smaller charges to have the $35 overdraft fee.
Yep that's how they do
Wells Fargo does the same.
I wonder of they still do that, I thought that practice was banned
😮
when the human citizens do this they're called "loan sharks". when the non-human citizens do this they're called "financial institutions".
I was JUST ARGUING this today with my branch manager! I opted out of using my debit card for overdrafts. Recently they've been allowing businesses that already have my debit card info to overdraw my account. He said that's always been the policy. He stands by it today but agreed to give back a handful of fees. I'm closing my account with them after 25 years tomorrow!
Oof those pre-authorized transactions are a real bear
Not only do they rearrange transactions from largest to smallest to encourage more fees, they also hold on to some of your transactions (claiming its the retailers privilege to run the charge when they want) just hoping you will overdraft so they can spring them on you. Some of them are purchases you could have made a week ago, but the bank waits to run them to see if you'll overdraft. It's crazy. They are criminal.
Is this true or from a reputable source?
I had this happen back in December, the transaction was from a month ago. (At the time)... I used a car wash ran card twice, charged right away for one, but the other a month later ...
This is so messed up!! (How is this legal?)
For real, especially when pay check comes in on Friday, you wont be deducted for bills you paid over the weekly f which makes you think I have more money in your account than you actually do.
@@charityalcott7317 They make it legal because that is what they pay lobbyists for. We the people have No One to watch our backs! Our Politicians the ones we voted for really work for the lobbyists. Now you Know!
@@israrobinson5175 You really have to monitor your account before you make any purchases, because even when you are overdrawn they will not deny your debit card purchases. That is why the NSF fees are their biggest profits. Blood money!
Advice from a former bank employee - do not sign up for overdraft protection! This means the bank will approve any charges even if you don't have enough money to cover the charge. It will destroy you. You WANT the bank to decline your charge if you can't cover it.
Tell them you DO NOT WANT IT and if you have it, go to your bank NOW and tell them you do not want it and that they need to remove it.
The sequence thing is correct- they'll put the biggest charge first but telling you the reason they do this is because they "assume large purchases are more important and you wouldn't want your check for your mortgage to bounce" - they are repriortizing your priorities to their advantage.
Thank you. I bank at a credit union and have that protection. Now I know why they changed me 5 fees for being shot about five dollars. This whole thing ended up not being my fault but they only reduced it to two fees to the time of 37 $
THANK YOU For The INFO!!!!!!
Overdraft Protection allows the transaction/charges to be approve because they coming from a seperate checking/savings accounts were the funds are available. This keeps account A from being "overdrawn" since the funds are coming from account B
Overdraft protection simply links a second account to be billed like a savings account rather than being overdrafted in your account, however if the balance in the backup account is insufficient to cover the transaction or there is no secondary account to link, you WILL be subject to overdraft charges. People don’t understand this and think that the charges are for the overdraft protection when in actuality, they didn’t meet the requirements for overdraft protection to actually kick in.
@@nightstrider15 this is incorrect - when I had ODP, I never had a savings account nor a credit card.
Hearing a bank CEO named his boat “The Overdraft” really makes me wanna break out the guillotine…
A torpedo is more straightforward.
The 90s brought us overdraft fees and double dipping junk debt collectors.
Gotta love a capitalistic country.
#EatTheRich
@@punkisinthedetails1470 this is a dope response
NOOOO!!! That is socialist!!!! /s
It just blows my mind how these corporations commit literal, premeditated theft and not one person in that company it held accountable, let alone sent to prison.
Going into overdraft is essentially theft itself. You are spending money you don't have.
@@johnnymo4000 It blew my mind that you can do that in the USA... In my country (and, as far as I know, every other country in the world) it is impossible to "overdraft", not only form your debit card but also from you credit card: you have a well-established limit of credit and it's impossible to spend more than that!!
They always invest in something called politicians
That's because you literally do not know what the word literal means.
Telling my bank I'd rather have my card decline was the best thing I've ever done for myself.
I love how Trevor Noah appears to really enjoy his work. That surely is key to his success.
And he's still out doing stand-up. He'll be at my State Fair on Friday!
😍
He just seems like a really all around genuine dude. Not sure if he contributes to some of the writing, but the way he balances between jokes and being real about serious topics is master class.
@@soapa4279 Yep his way of delivering the gags is just outstanding. He is truly a master at his craft.
Years ago I declined overdraft protection when signing up. They still over drafted me months later. When I called to complain they said there was nothing they could do. When I mentioned I declined their overdrafts when signing up they apologized and immediately refunded me.
Fun Fact: In Germany most bank accounts are setup in a way that you can't even overdraft. If you want to have an option to overdraft, you have to talk to your bank and they will put a overdraft limit based on your money income of the last months.
I had a bank do worse than just reorder my purchases a few years back - they charged an overdraft on everything, even though only one could have possibly overdrafted no matter how it was ordered because it was only a couple dollars over. When I asked why I got multiple overdrafts when it wasn't possible for more than one to have gone over - they told me it was because they processed ALL of them at the same time. I had to argue with them over the phone for a while and they eventually told me they'd drop it to just one 'as a courtesy'. Like it's a courtesy to not literally steal my money by charging me illegal fees.
I knew about the rearranging for years because when I was broke, I knew I'd run out of money before my next paycheck, so I'd buy everything I could down to the last dollar, than fill up my car with gas so I'd only have one over draft fee. Imagine my surprise when I got hit with multiple fees. The bank told me they do that to protect larger purchases since they are more commonly more important like bills and that it was a favor for people. Yeah, didn't buy that for a second. I would get them to remove the fees but man banks are just grimy.
Best and Funniest Trump-Coverage: Holy Koolaid, Some More News, Telltale Fireisde.
Legit sounds like TCF Bank, that's grimy AF
They removed the fees?
@@GeorgeWashingtonLaserMusket -- It isn't always that easy. Some people are living paycheck to paycheck. Those people may even have their budgets planned out. What happens if you get hit with one of those annual fees that are automatically withdrawn or one of those payments that only happen 3 times a year.? Some people put plenty of thought into their spending but can still be punished severely for mistakes.
Most would rather that automatic withdrawal from Netflix be blocked due to insufficient funds than end up costing you $30.
@@eobardthawne324 If you call and ask very politely they will sometimes remove the fees. (Or more accurately, they'll remove the 'extra' fees and just hit you with one instead of 4.)
These are the things those struggling with poverty have known for years. I'm glad it's becoming common knowledge! And people are fighting it.
It's expensive to be poor in this country.
Im glad to hear someone besides just myself yelling at the bank about this
I had $100 “accidentally “ added to my account, then had 2 check overdrafts charged to my account when the mistake was discovered and I was notified after the fact. The two checks were both for utilities at my apartment so that also had late fees and I thought the bank might at least waive off their fees, considering their accidental “clerical” error. Ha! Guess what, banks are in it to make money, not just make your money safe. Look up the Wells Fargo incident, ask, how are they still in business? I guess the mobs had to go somewhere to keep making money!
lol you think the teller who mistyped your deposit was out to get your overdraft fee? no they probably discovered the mistake at the end of the day and had to correct it or it was on them. wells fargo was messed up though. i would never bank with them
I worked for a bank in the U.S. that had the option for customers to opt-out of overdrafting their debit cards, but customers didn't know and we weren't allowed to inform them about it. I felt horrible... In my country we cannot overdraw a debit card, you only spend what you have. If you want otherwise, you get a credit card.
US bank has been in trouble for other things.
At my bank you either chose a preset "overdraft limit" of say 1000€ or you don't. If you do, you know in advance that you are paying the going debet interest over the negative balance, but that's it. Not 35€ per time you withdraw, just an amount of a few € at the end of the month being debet interest. I do suspect them of holding incoming funds before actually adding them to my account, making them interest and potentially causing me being overdrafted, but they do not modify the order of payments. However, with todays credit interest rates of 0,0001% it is not much of a deal anyway.
USA here...
I opt out all the time.
My motto, If I ain't got the cash i can't buy it.
Citizens Bank did that exact reordering scheme when I used that bank when I was younger. I finally told them to close the account when it was negative and told them to consider it even. My credit was in the dumps anyway so I didn’t care. Two years later I got a large check in the mail because they had, unbeknownst to me, lost a class action suit and been ordered to repay all of the over drafts fees. I received three checks over a period of about 18 months that totaled all of my years of overdraft fees. Fortunately I learned from this and handle money much better now, but it was cool to see the big bank lose just once.
Must be nice! Bank of America lost a lawsuit not to long ago and they gave me a whopping $2
This has crossed the line into Public Service announcement.
Trevor and his team, keep it up!
The resequencing is why I left one of my old banks. First Convenience Bank of Texas used to do it all the time to me. I'd accidentally go $10-20 over what I had and they would resequencing everything that happened over the weekend so I'd have 3 small purchases that went over even though they were done first. Since then, I've gotten a new bank and I literally route all of my purchases through my credit cards and pay them off every paycheck. If I can't pay my full bill that pay period, I'll lock down my spending until I clear it so I don't incur interest. They actually REFUSED to unenroll me from the program because "it was mandatory" (this was 2019). So I told them I was leaving. I got back $35 out of the last set of fees they charged me ($70), but that was the only time I got anything from them and that might have been influenced by the fact that I knew how the payment system at my work worked due to being the manager in charge of it. We send everything on the weekends over in one 'batch' of authorizations to be handled on Monday and they had a $15 charge on my card from lunch on Sunday resequenced so it went second in line, but the $5 charge for breakfast that same day went in last.
My current account has no overdraft fees, but I still am wary of ever hitting 0 in my bank account from years of living paycheck to paycheck and absolutely dreading overdraft fees.
Bank of America was (and probably still is) notorious for rearranging purchase history in order to rip customers off with overdraft fees. They did it to my wife several times!
And they still do i see it wan i buy something. Always the largest amount is at the top when i know that i got it after
Call the SEC. I did and they gave all the money back bc they were previously sued
I haven't banked there for 40 years but they used to charge a monthly fee to have a checking account, then an additional fee for each check I wrote! I'm thankful someone explained the difference between "Banks" and "Credit Unions" to me...
Oh my goodness! I was told it was because some process longer than others. 🤬🤬🤬
Also Wells Fargo!
I've worked in banks and credit unions, and that "staging transactions" to make you overdrawn is very accurate. Example: If you have a transaction that surpasses that financial institutions limit on what triggers an overdraft. Like some banks will allow you 5.00 and under, and won't charge a fee. Most FIs processing times end for the day at 11:59, so if you have 100.00 available, and have a purchase(s) come in over that, but you had a deposit pending? Yeah that deposit won't "process" to the account till the next day, at 12:01 AM. So now, even though the money was "technically" there, the customer still gets charge and overdraft fee on EVERY TRANSACTION, that hit before the deposit. This was just one reason I left the industry, and never looked back. Blessed be 💜
What kinda third world country is America? How is your deposit not instantly available any time of the day? I can literally deposit money through an ATM at 3 am and have it on my debit card 1 minute later, I'm not sure what you're talking about?
Deposits are not made instantly available, the bank gives you access to the "pending deposit" but that deposit has to post before its available. I spent 16 years in banking, credit, and lending. 10 other people understood what I was saying, I apologize it seems lost on you. Have a great day though.. Blessed be 💜
Looks like American banking system is rather old-school.
Indian banks are so digitised these days, I can transfer money at any time and I'll have it ready in 30 secs. At ZERO charge.
@@kevmikhail2990 It's not so much a third world country as it is one that only cares about the rights of the wealthy.
Huh, yeah. That is a third world country.
Banks in the US are literally ripping you off. The moment I put money in my account via ATM or transfer through FAST system (aka "instant money transfer system" in my country) my money is in my account and available to be used. There is no pending deposit BS. The laws here protect the citizens against banks' tricks. And I am grateful for that.
THIS RIGHT HERE IS RIGHT ON TIME!!!! I’m about to flip on the bank myself! Ridiculous how they take your money with no concerns. I’ve opted OUT of the overdraft fees and they still do it anyway!!! Claiming “well the purchase you made needs to be paid for.” Really? Well then since I have to wait 2-3 days for you to loan me back MY OWN money, then the company can wait 2-3 days until I deposit again.
What frustrates me, is I had overdraft protection, so they just transfer my money from my savings to my checking to cover it and they charged a $20 fee for this. So, you are still penalized for having the money just in the wrong account, it is like you just can't win.
You agreed to this when you opened the account. The money is in 'the wrong account' because you didn't transfer it yourself or keep track of your spending.
Several banks have "rearranged" my transactions to charge me numerous OD fees. One bank even charged me for my balance going below $100. I was so traumatized by being robbed that I would go without meals so I wouldn't come close to getting an OD fee. This was years ago, when I was in my 20s and new to adulting! Don't let these corporations keep robbing you!
They get almost all of us when we were young adults. Can't protect yourself from tricks you don't know.
I have a bank account so
I can cash my checks instead of going to another business that
charges fees to cash.
They’ve all had this figured out for some time.
@@opaltaberna6817 Costs about the same. I did it for five years. Your going to one place, instead of another. Most banks charge a fee to just have an open account.
I know there is free checking, but it comes with alot of stipulations.
@@meoff7602 Try a credit union, all I needed was $5 US to open the Savings Account. It isn't available for me to use and i couldn't open a checking account without it.
Well worth it me vs my old banks fees when l went below a certain amount.
@@MrChopsticktech I tend use banks as a convenient check cash and bill pay method. I'm usually as close to zero as possible.
I know I really should look into a credit union.
Back in 2011 when I first opened a bank account on my own, I asked the banker to explain me on layman terms. Once he explained I said, if there is no money, decline the transaction that's the protection I need.
When they do that, it's called a non-sufficient funds fee, and they charge you $35 for having to reject a transaction you don't have the money to pay. So either you pay $35 for overdraft, or $35 for not having it.
when i was younger and broke I did notice how banks would re-arrange items in a way that would maximize over drafts.. the bank lady told me that it was because it kicked in later and that is why but now I know I was not crazy.
And recently I had overdraft "protection turned off" and somehow it over drafted 10 dollars and it charged me 35 bucks. I told the lady at the bank that it was disabled and she said that I could not disable it and she would remove it this one time only for life..
Then during covid two of my credit cards sent me a letter saying that they would freeze payments for 2 months to help me . well being a tennis coach and out of work due to parks closing down I decided to give it a try. since I did have money but i did not want to wait till i ran dry. Well imagine my surprise when they jacked my interest rate to the maximum and reduced my credit limit to my current debt .. yeah thanks for the help Citi bank!
Banks are the reason most people are broke.
Tested that with BofA. They were holding charges of $1-20 for up to a week, waiting for those big bill payments to roll in, which would always go through within 48hours rapidly draining the account and suddenly, oh it looks like we can release all these little purchases but isn't it too bad they are over drafting over and over. Took to using cash only from the ATM, but even that mysteriously started taking a couple days to fully clear.
@@UlshaRS yeah I am sure they have people on payroll looking at these accounts maximizing over draft charges
I’ve also observed where charges seem to come in a couple hours before direct deposit allowing overdraft fees to occur
I’ve opted out multiple times. Would much rather my card be declined than pay enormous overdraft fees, yet still when it’s questioned the bank never seems to have any knowledge or record of that.
Even with this option which I have on my account. If you buy something (or someone else) online it can cause an overdraft because online is run as credit.
Find a credit union. I opened an account at one and didnt even have to check that option.
Don't understand that banks allow just about anyone to overdraft. I have a free bank account, the bare minimum service and fees on certain things, at a second bank and it doesn't allow me to overdraft. I'd have to pay €3/month for the ability to overdraft.
I’m with a credit union though (mainly for that reason) & it’s still the same. I’m in the US, so also may be different elsewhere, idk
Same! I have opted out and told banks "Decline the purchase if there is not enough money in the account". I have done this multiple times and they still act like its the first time I have ever called.
hmmmmm......
There was a small bank in my home town that not only rearranged the order of withdrawal, they also prioritized withdrawals over deposits. So you could not shop on payday but had to wait until the next day when the bank finally processed the deposit. Of course they never mentioned this to anyone and a whole bunch of people got caught out and ended up over drafting. They ended up paying out in a class action and eventually went out of business after almost everyone pulled their money and refused to bank with them anymore.
I caught Bank of America red handed. After they charged overdraft fees on July 4th
Waiting one day is nothing! When I had a bank account with Citibank in New York City back when I was in my 20s in the 1990s, after getting my paycheck and depositing it, I had to wait 6 BUSINESS DAYS before being able to get any money from that deposit! And the bank offices closed at 3 pm! That was a shock after having moved from Atlanta, where you had to wait only one business day after receiving your check for it to clear and most bank offices were open till 4:30 pm at least and 6 pm on Fridays. In some other banks, it was 3 business days. Debit cards may have made things a bit faster now, but having to wait only one day to get money from a deposit really isn't that bad.
Bank of America, Chase, etc officers told me the SAME thing! And yes, fir a FACT these big banks do that and say "Better to be negative for OD fees than to be embarrassed 😳 "
I told them EMBARRASS ME! SMH 😠
and yes, I read all the fine print.
ABSOLUTELY BELIEVABLE. I worked at that bank that got caught in the 2014 fake bank account con and I saw I t all.
When I asked on how the drafts would trigger they would say “it depends on the vendor”. In other words if the store where the client made purchases didn’t collect funds soon enough it would rerelease funds into account and therefore misleading consumer into believing that they had more funds. Yet as soon as the person spent that money it would trigger the avalanche of charges.
Interesting enough if you made a charge bank would leave the funds available in your account for as long as possible until you thought it was safe to spend. Almost as a trap.
Once I had a bank charge me an overdraft fee which is what actually caused me to overdraft. Positive $10 in my account and then a $25 overdraft fee. They wouldn't reverse it so I said close the account. They then reversed it.
He left out instances where you have multiple accounts including a savings account with plenty of money. They will charge you the same overdraft fee to transfer money from your own savings to checking account. Also applying the highest charge to the lowest charge and it’s not even THEIR money or money you don’t have in this instance.
Very true.
I used to oddly feel guilty about having auto transfer of $20 from my checking to savings to avoid paying the checking account fee. Now knowing the amount of fees they have for other things, why the F would I feel any guilt over a rich corporate bank racking in millions off people who are already struggling.
I know, that this is probably an unpopular opinion, but isn't it technically your own responsibility to make sure that the funds are available and on the correct account, when you use your card?
@@Dumledaj Absolutely. But this video highlights how banks would move things around to maximize their fees. It also gets really hard for some people who think they have X amount of money, but really don't because sometimes transactions are still pending.
And this largely affects the people who tend to have very little money to begin with, which USUALLY means they aren't financially literate (and I don't mean that in a demeaning way, just the truth.)
@@soapa4279 I am below the poverty level myself, but if I wasn't 'financially literate', I would get someone who was to help. As people who work/worked in banks, when you open the account you must sign where you accept the terms and agreements. Here are excerpts from the website's 'AGREEMENTS AND DISCLOSURES':
Your signature on Your application for membership informs the Credit Union that
You would like to join the Credit Union and that You agree to conform to the Credit
Union's Bylaws and Amendments.
ACCOUNT AGREEMENT
YOU AGREE AND ACKNOWLEDGE THAT THIS AGREEMENT CONTROLS YOUR ACCOUNT(S) WITH PENN EAST FEDERAL CREDIT UNION, TOGETHER
WITH ANY OTHER RELATED DOCUMENT SUCH AS OUR FUNDS AVAILABILITY POLICY AND ELECTRONIC SERVICES AGREEMENT AND/OR AGREEMENTS
AND DISCLOSURES, ALL OF WHICH, TO THE EXTENT APPLICABLE, ARE INCORPORATED INTO THIS AGREEMENT BY REFERENCE
MINIMUM BALANCE REQUIREMENTS, FEES AND SERVICE CHARGES. You
agree to pay Us any applicable fees or charges, and are responsible for any
minimum balance requirements and deposit requirements called for in Our
Agreements and Disclosures provided to You when You opened Your Account. In
any case and with proper notice to You, fees, charges, balance requirements and
deposit requirements may be changed by Us from time to time.
For the purpose of determining whether an overdraft has occurred, We use Your
available balance. First, We add all of the settled credit transactions to the
beginning actual balance. Then, We subtract all of the debit transactions that
settled that day. We also subtract all of the pending debit transactions. This
determines the available balance for overdraft purposes. Each debit transaction that We process when Your Account has a negative available balance is an
overdraft, subject to an overdraft charge.
There is 17 pages, so even if i didn't understand them when I opened it, I can get someone else to read it and explain it to me.
@@MrChopsticktech Thanks for sharing that as an example. And yes I would consider myself financially illiterate for the longest time too. I didn't have parents to teach me how to save, invest, manage money etc. nor look at contracts or fine prints.
Today I work as a Sr. Business Analyst and have dug myself out. With hard work, better decision making, above all sacrificing of course.
So yeah you're right, sometimes it helps to just go somewhere to get help.
This just happened to me. I never signed up for this protection. Yet, all of sudden this happened now that the corporations have scalped us with crippling prices. So the paycheck doesn't stretch as far as it once did.
I was OUTRAGED and called them immediately to refund the money they charged me five times in a row.. They did refund me.
I went through this with BofA in the early 2000s. It's why they aren't my bank anymore. And before someone says I should have managed my money better, I deposited my paycheck with a teller before I went to spend money and then spent less than half of what I had just deposited. They processed the deposit last, so every single purchase I made that day was overdrawn. This was back when they also charged increasing amounts for each overdraft and it took 6 months for the increased rate to go away. At the end of the day, I wound up unknowingly charged about $150 in fees. Then because I wasn't aware I had $150 less than I should have had, I just kept paying bills and kept getting overdrawn. (This was back before online banking was a thing, so I didn't find out about the fees until I got my monthly statement.) If I remember correctly, it took me several months of just ramen for dinner to finally stop being charged fees.
After realizing I had been charged multiple overdraft fees, I went to the bank to straighten it out. I am now realizing they must have rearranged my purchases for that to have happened. At two different banks I've removed overdraft protection, after bankers at both places have tried to persuade me to keep it, giving me the line that it was to protect me from embarrassment. Trevor is spot on in this segment 👌👌
It honestly seems strange to me that banks even let you overdraft. If you don’t have the money, shouldn’t banks just say, you don’t have the money, so I’m not going to give you that non-existent money? Not trick you into taking out a loan you didn’t realize you were getting yourself into?
It’s like credit. Why would anyone let you spend money they you don’t have? Because they can make more money off you via interest
Yes but you did know you were getting yourself into it from day one. Lol
Get a prepaid card then, you will pay the fees somewhere unless you use cash.
Banks are providing a service, to spot you. What is wrong with it.
Be responsible.
We ALL have to learn this.
See you're thinking like a human being. Instead, try thinking like a sociopathic, profit maximizing, money idolizing corporation bent on exploiting customers as much as possible within legal bounds which are constantly being tested and lobbied against. Now it makes more sense, right?
@@therealsandraweise the fact that you're defending this is disgusting.
It's not a trick, it's a loan that you agree to any time you spend money you don't have.
TD bank did that to me years ago! I got hit with over $300 in overdraft fees because they re arranged the order of transactions.
They told me that they figured that the largest ones were the most important! Not sure how that makes sense since they allowed all of them to go through anyway.
I was going through such a hardship and the most they offered was to wave one single fee.
I don’t know what’s worse, junk debt collects, banks or Comcast!
Thank you Trevor!!! Lord, how I love this man!! The man speaks the truth!
Considering the fees CHASE bank charges on every little thing, I'm surprised they're too cheap to pay for a security guard. Not valuing your employees safety gives new meaning to "Corporate Greed!"
I was 4 days late paying my bill and they didn't even charge me a late fee. I mean I was going to call them and they were probably going to wave it, but it was nice that they saved everyone the effort. I pay my balance off every month.
I have no problems with Chase. Just don't write checks and only use debit. If you don't have it. You can't spend it. It really is that simple and I lost the ability to have an account at any bank for five years. I learned I didn't actually need banks.
Most companies only started to care about employees safety was when it cost them from being sued ect…
@@meoff7602 easier said WHEN you have the money!
I've been using Chase for the past 15 years. I've never incurred a single cent of fees. Maybe you should just be more responsible.
What really adds insult to injury is when you have $ in a savings account so the bank transfers your $ from savings to cover an overdraft in your checking account and charges a fee to transfer your money.
Yeah it's all just 1s and 0s, so ridiculous!
Did you read the terms and agreements (or whatever it is called) or ask any questions when you opened the account? I am pretty sure all policies would be in it and you couldn't open the account without them. I must keep a minimum of $5 USD in my checking account and understand they will take anything over that to avoid an overdraft, but I don't remember if there was fee, and there hasn't been more than $5 in there every time I overdrafted it in my ten years banking there.
My credit union doesn't charge me for that service. It's despicable that a bank would charge you to use your own money.
@@laurao3274 I switched to a credit union here and they still charge for that transfer. Not as much as the banks do, but it still grates when they charge a fee for transferring your own $.
Oh man. My credit union did that for years. It got to the point where I had to get a secondary account just to get the charges to stop. I hate that it costs money just to transfer your own money
I'm retired 37 yrs from one of the Biggest bank, I never worked in branch a call center center mostly credit cards then debt card & check fraud Yes overdraft fee is too much especially us seniors& low income
Man, Trevor is amazing!
News was never so fun!!
After a long wait, finally Trevor came up with the Another installment of "If u don't know, Now u know", This segment always gives a insight on the issues that people like us from outside USA view as a long sight, presenting the problems with a humour is appreciable and Kudos ! Trevor ...
I had this problem years ago, for months we had money problems, got over drafted and kept getting penalties daily, no matter if we put all our money in we couldn't catch up, finally someone at the bank seen we were trying to get a balance to 0 and finally gave us a break and just stop charging us daily, I have never overdrawn since.
3:52 You know what, I'm just fine being embarrassed...
I've suffered worse embarrassments than having a card declined at the store; it's not the worst thing in the world!
But being hit with 7 overdraft fees for being a couple of cents over DOES rank high up there!
I knew all that, because i use to work for a big bank customer service, and most of the calls were about overdraft fees. They are so greedy
It's worth mentioning: Wells Fargo was sued over that rearrangement thing in California, they lost. It's EXTREMELY illegal in some places.
I also have overdrafts disabled on my USAA bank account. You CAN and SHOULD opt out so it only processes the exact amount of funds you have.
Or it shouldn’t exist?
It's what society does. Kicking people when they're down then act surprised at suicide rates, further degrade the homeless all the while pushing more ppl to it every day
@@DontCallMeAaron - That too
Can I opt out after I’ve already had my bank account for several years???
@@gillianespinoza3652 yes
Busted. I've seen the banks rearranging charges for years. Also, they process withdrawls BEFORE deposits. So if you put in a deposit and also spent some money in the evening, they put the deposit in AFTER they take out your withdrawls in the morning so you go overdrawn. That should be illegal!
Bank left .01 in my chase account on when I asked to close it. They charged me $6 for maintenance fees for not maintaining my minimum balance, then an overdraft fee for that fee putting me over. By the time I realized they hadn't closed my account, it was $900 in the negative, debt collector was the first one to notify me, and I ended up blacklisted from any chase affiliates for 7 years.
The US system continues to baffle me. Here in The Netherlands, debit payments are de standard, you have a certain amount of money and that's how much you have to spend. The whole idea of credit card payments just seems designed to rip people off.
Also, you can opt in to be able to overdraft up to a sertain amount. You actually need to opt in for that, it isn't hidden in a large pile of paperwork. You pay interest over the amount of money you are due. It is a high rate, but you don't pay per transaction. You also stop paying interest as soon as you have the money back in your account. Also, you can turn on notifications for when you are below (or above) a sertain amount so you won't be surprised
It's only scummy because most people do not have discipline using credit cards. The rule has always been the same: don't spend what you don't have.
This has nothing to do with credit cards. Overdrafting is basically if you attempt to spend more than you have. Yes, it should decline the card, but banks claim they're allowing you to spend more to save you from embarrassment when your card is declined or something.
@@christafranken9170 I enabled those notifications at one point, but they magically turned themselves off. And then randomly came back on again several months later without me doing anything. Hmm.
@@a.melanoleuca2247 Yeah I agree, but it's been designed with that lack of discipline in mind, to take advantage of it right?
I had B of A as a college student. They did the rearrange trick, sometimes holding my debt for gas and a coffee for days until I paid rent, then overdraft if for everything at $35 a pop. I changed banks and closed account. Some subscription service was still connected, so they reopened it and mailed me a bill for over $400 in overdraft fees a couple of months later. I was a student, living on my own, just trying to survive. I went into the branch and they wouldn’t help. I started bawling and the woman said she could cut it in half… I didn’t have $200 for nothing either.
I had this, closed the account and then the bank paid some money. i went in and told them, no that account is closed so any money or charges is now your problem. Your mistake. After 30 minutes sticking to my guns they had to say it was their mistake and their problem. They just showed me again why I ditched that bank after being a loyal customer for 20 years.
I've recognized this problem for so long. I'm so glad someone is talking about this issue.
Thank you for this knowledge 💪🏾
Thank you Trevor for bringing this topic up, poor man's tax for sure! I've lived in New Zealand 2006 to 2007, literally was 9nly charged 50cents for overdrafts less than $5 over. Australia was a bit higher but no where near $30.
One of the features that Chase bank has is that the manager can make an allowance to override all the overdraft fees in your payment history and give you back your money. However, they’ll only do this once every 18-months, and they might do this in the case of a financial pinch. Also, you have to ask the manager to do this, they won’t automatically offer it to you.
If they didn’t want to charge you in the first place, they wouldn’t
👏🏻👏🏻👏🏻 love this segment!!!
It's about time this gets a bit more attention. Overdraft fees are theft are the truest words to ever be spoken.
Trevor, you're a US treasure.
Elvis with a boat named " Black people's music"! That's so spot on!
Wow! Thanks Trevor! So informative
I learned this the hard way when I was 18 and barely making money at a video store and had my first account with Wells Fargo or Wachovia at the time. I thought I would only get drafted once because I only made one purchase that overdraft the account but nope! A bunch of my smaller purchases is what overdraft and I was hit with multiple fees. Now I don’t use my bank account for anything other than paying bills and getting my deposit. I make my purchases on credit, get points / rewards and pay it off later. I don’t have to worry about my limit or going over or fees. I also feel more protected using a credit card and usually any issues I’ve had their customer service is more accommodating.
This is why I stuck with a Credit Union. The interest rate may be nonexistent, but at least I don't get overdraft fees or anything else like that.
Unfortunately my credit union charges overdraft fees. Only reason I keep my bank is I get paid up to two days early. Otherwise I be gone.
@Nicholas
💯
Most cu charge no fees or penalties cuz cu are non-profit & owned by the customers. Win win.
I left commercial bank years ago, I have been with CU since the 80's, I had an account with my ex because he said why have two bank accounts we'll just use mine and he banked with Bank of America at the time, they charged ridiculous overdraft fees! I'm glad I never closed my CU account and convinced him to close his account and go with CU. Never had any problems after that and till this day I still use CU.
My credit union charges od's but they don't withhold crediting my deposit until after they've od'd me on {five different transactions I waited till after payday to make so that they wouldn't od,} which is something My Last Bank Ever did on a regular basis.
Also, my interest rate is competitive.
I once had $70 in overdraft fees because of $0.50. And $8 charge came out of my $7.50 account. Immediately a $35 fee. Then because I had no notification of it, another 2-3 days went by so another $35 overdraft fee came out. Anyways, I decided then I was ditching that bank at soon as I could.
I had over a $200 credit card bill for a $5 Burger King meal. I forgot about that one purchase and thought that my card was paid off and moved at the same time so never got a bill…. Ended up paying it too! I think that I cried.
@@me9661 Ugh that's awful! Yeah I definitely cried when I saw my bank account balance was only $30 after excitedly depositing the ~$100 I had accumulated in Christmas gifts.
Oh trevor 😢 you are amazing 👏 I love you for this ,my house is about 30 minutes from what that happens but you have to understand trevor we hardly make it with what we make a week,one time my kitty cat was sick she needed her medicine but the bank charged me 65 over draft fee and my kitty cat didn't have her medicine 😢, regions banks are very diabolical, trevor you are absolutely great, I hope they pay one day and yesterday I went to bank of America and they told me that they don't have a free checking, one is 5 per month, one for 15 a month and the Las one for 25 per month, is simply crazy ,they thieves you are absolutely right
Always extremely informative 👏
Wow... Woow... Man that is wild! I'm absolutely speechless! And again! How is that even legal? And most likely, the USA is the only country which allows such wilderness of a greedy behavior!
My ex bank got fined for shifty accounting practices and I got a check from them for the money they’d been “stealing” through creative accounting on their part. They are no longer in business.
Why mention this if you can’t at least name the bank some one reading may need to know
Someone is lying but they aren't replying to comments.
No need to mention the bank if it is no longer in business. Accusing someone of lying is quite arrogant. People are sharing their personal stories. You don't know because you're NOT a part of the experience. Either you believe it or not. Just move on to the next comment. No need to be a troll. 🤨 If people REALLY want to know the name of the bank, all they have to do is Google it. A few key words and voila! Very simple solution. Sometimes people want everything handed to them on a silver platter. Why are people afraid of doing a little research on their own? 😔
_I_ know they are optional, and did something about it. That stopped the "this $1.50 purchase at the convenience store cost $36.50" blues, and it's not hard to do.
Go to the bank, wait to see an officer, and tell them you never want to have overdrafts, and that you want your account changed so that any payments that would create an overdraft would be declined. They will undoubtedly tell you you agreed to it, it's a convenience for customers, etc. , but be persistent. Make sure you get the person's name and be prepared to do this twice (i.e., to have to go back to the bank). The second time, if you are polite, you probably can get any recent overdrafts refunded. (Yes, they can do that too.)
I discovered I could opt out several years ago and they really really didn't want me to do it. Its been heaven ever since.
😡 I've had this happen so many times in the past. At one point I owe $220 in overdraft fees in one month. Then they started allowing you one overdraft fee a year. Now they tell you they'll discount the first one, but you still paying a fee. The fees at this point are $35, and the discount only brings it down to $15. It was a legal way of robbing people. Capitalism at its finest. 🤬
I worked in banking for nearly a decade and can confirm they change the sequence of events depending on the transaction. “Debit” transactions tend to clear instantly and “credit” transactions take a few business days. Same for checks, etc. it makes sense to me because I worked there and I was trained to specifically explain why the bank changers you OD fees and why we won’t be refunding it. Arguing over OD fees was literally a fourth of my job as a banker.
I’ve been saying this for years!!! People kept looking at me like I was crazy. I’ve never worked in banking but I’m not slow.
accept on weekends for some reason debits wont show up as paid until monday.
For many years now I have had my account set to deny anything that would cause an overdraft.
The problem with that is the account can still be overdrafted by online charges. It happened to me on a cell phone auto pay that they dinged me twice on. Spent a day clearing that mess up but didnt pay any fees.
When I opened my checking account, the guy at the bank told me to always do credit for everything. He said remember, credit comes before debit in the dictionary.
Stores want you to use debit, because the fees are lower. That's why the card readers always ask for your PIN if they detect it's a debit card. But cancelling it to process as credit gives you extra protection through the bank/credit card issuing company (Visa or MasterCard, usually) - or at least that's what they told me.
As far as the funds clearing, that's just a technical thing that affects the bank more than it does the user. They show up as pending charges immediately, and the money is already taken out so I can't spend it. I have overdrafts for card transactions turned off, and it doesn't matter if I do it as debit or credit, it'll decline my card if I don't have enough money in the account to cover it.
I do notice some "smart" applications though. Like at a gas pump, even though I'm never asked for my PIN, the pump stops when my account runs out basically. It's kinda weird. Not sure how they know.
Thanks for the info Trevor.👍🏽
My Mom passed away in February of this year. She had $58,000 in the bank. Around the end of March, or so I'm told, the IRS notified the bank of her status, and they froze her acct. I was busy arranging for her funeral (in its entirety), by myself, during this time. Since we had set her banking up (years ago) so that ALL of her bills were automatically paid, I figured I had some time for a breather, before I had to start tending to her finances. Mi-April I started getting multiple NSF notices in the mail, and discovered I could no longer log in to her account. I called the bank who claimed they could tell me nothing, unless I showed up with her death certificate, which I did. But I had to show them a WILL too. It took a call in to her lawyer, and $200, but I brought that in. THEN they said it was useless w/o a copy of my Dad's death certificate, which required a 3hr round trip drive to the county courthouse, but I complied and brought ALL of the paperwork into the bank, who then cheerfully informed me that NOW I had to file all that paperwork with the county, and then come back with the proof of the probate filing. I'm the primary trustee of the estate my parents put together in the 80's, to avoid probate, but that didn't matter....
In July, the bank slipped up and told me the current balance in her account..... ZERO A big fat bunch of NOTHING! They froze the account, but collected NSF charges EVERY TIME there was an electronic inquiry. To make it stop, I was expected to contact every one of her creditors individually, to discontinue their automatic payments, BUT I WAS NOT ALLOWED TO KNOW WHO THEY WERE... I'm not even allowed to see how many NSF fees and penalties the bank levied against her acct, because The March statement was the last one they sent to the house. I'm still looking through old mail to piece together remaining creditors, so I can settle. Then I'll have access to her IRA.... THEN I'm getting a lawyer, and file suit against that bank!
European viewer here... just wondering how this is legal? This would definitely be illegal here.... The only 'overdraft' we have here is a couple of % (per year) of being in the red...
Yohohohoho
Because…America 😑
Yeah I got 5 overdraft fees of $30 in the past 2 weeks and only one actually tried to charge more than $30 originally...
Because we have freedoms here!
The freedom to be stolen from by banks.
The freedom to be shot while attending school.
The freedom to die uninsured on the street from a preventable disease...although oddly enough not the freedom to sleep on the streets if you're homeless.
You should look up payday "loans" for another shock.
International ATM fees: another ripoff.
Trevor my dear- in difficult times thank you for your service!
Congrats on the new channel!
14 years ago I had the most expensive meal of my life on a date with my now-wife. To start the story, I had deposited my check the previous day. We had gone to sonic in southern california and, not having been there before, we decided to indulge. First we get a couple burgers, then I doubled back and got a drink. We got some jalapeno fries (and another order once we finished that one). We got 3 deserts and another drink. We spent about an hour and a half just trying things on the menu in what SHOULD have been a ~$30-$40 overindulgence. It turns out, Bank of America had decided to hold my check for the first time since I had started banking with them and I was overdrafting from the first of the 11 total purchases. That meal ended up costing $412 and change and the bank refused to do anything about it despite the amount of time i spent trying to get it reduced. Overdraft fees are yet another poor tax.
This is outright criminal. 14 years ago real-time deposits were already a thing.
BofA is just evil. I hope you switched banks after that. I did.
That's hilarious. I'm glad you learned your lesson not to "splurge" when you don't have $40 in the bank. What a joke.
@@tim3172 except i did have the money in the bank and the check was retroactively held 48 hours.
That example of the bank arranging purchases happen to me last month! But in my case they tried to say that I made purchases before I made a deposit but I had made them after I deposited the money! They finally gave me the overdraft fees after I showed them the ATM receipt that showed I had made the deposit before I used my debt card! They still didn't own up to their mistake they told me that this was a one time thing even if I show them the receipt!
They like to process deposits _after_ they process all the withdrawals for exactly this reason. It's straight up evil.
I was told by the bank manager Wells Fargo , with a straight face that the bank will take the largest transaction and process it first because they are concerned their customers mortgage would get returned. Which happened to me , but then I was charged 7 OD fees at 35 a pop for transactions that where under $20.
Another time I hooked my chase card to a scooter app and for some reason it ran upto 10 different charges, Chase charged me $35 a pop. I recall paying several hundred dollars for about 10 charges that totaled 30$.
Thank you for doing this! We are middle class with husband ironworker and times were hard with 4 kids over the years. We PNC, Fifth Third, and more did that to us; rearranged what cleared first (the expensive things) and charged us thousands in overdrafts over the years. Their excuse was; "we wanted to make sure the IMPORTANT stuff cleared first"
It blew my mind when I learned that if you have a certain substantial balance in one of your accounts my bank, they not only waive overdraft fees, they refund ATM fees, etc. Soooo… if I have a lot of money, I get to keep it, but if I don’t, you slap me with fees all over the place???
yeah, picking on the poor.
It is always more expensive to be poor.
@@2Exile0 100%
Yes, because if you have a lot of money, then _they_ have a lot of money. They can then pool all the rich people money they got to play the stock market, or maybe flip real estate.
I suspect that they don't get to do that as much with poor people, since people who live paycheck to paycheck won't have a balance to add to the "Other People's Money" pool.
The bank makes money on your other account because it leverages it for loans so they waive minor fees.
If you don't have money in the bank and you overdraft you cost the bank money so they... charge you.
This really isn't difficult.
Just caught my bank "double dipping." When I would make a debit charge they would immediately take out the money and put on a "pending." All normal right. Well a week later they would take the money out a second time to "clear the pending charge." Just saying, keep an eye on your accounts, banks have started doing shady stuff again.
Yep I noticed that with my debit card that over the whole weekend they would allow me to keep using my debit card and when I would notice there would be a bunch of transactions that were pending but it's a debit card it should have taken my money out immediately but then they wait until Monday comes around and then try to process all of it it once causing a negative
@@user-tw6bj4xx1l yeah, I hate that one too. But I'm saying they took out the money immediately then waited a week and charged me a second time. I only found out because of the overdraft fee/the second charge sending me almost $40 into the red.
When did they stop?
Don't give any of your money to a bank in the first place! There are ways to manage your money without a bank.
Use Credit Unions. I left Big Bank a long time ago and never looked back. The only exceptions are the Internet Banks like INGDirect (which I don't think exists now). And even those, I suggest using them only for savings accounts. Use Credit Unions as your primary banking system and things will be better.
i remember being in the military with direct deposit going into my account at midnight yet the debit card purchases 8 hours later would draw before the deposit triggering overdraft fees.
As someone who worked at a commercial bank for over 10 years, I agree that overdraft fees as well as, minimum balance fees are the biggest scam on the working poor. It got me sick everytime when I saw someone earning less than minimum wage have over $100 of fees instantly deducted from their direct deposit. Some would be unemployed for months and their first paycheck are nearly wiped out by outstanding fees. How the bank made money was charging a minimum balance fee whenever the customer balance drops below a threshold.(usually set high). Every month they'd charge fees (until the client makes a deposit), but would continue charging the fee after the account is below the fee amount. Now there is insufficient funds, they charge an overdraft fee every time they charge a minimum balance fee . Client depositing for the first time after months think they're getting their full paycheck but would be surprised by all the negative outstanding fees. I'd constantly had to call managers I have those fees reversed. Thankfully, my ex employer changed their policy on minimum balance and overdraft fees.
One thing I love about Citizen's Bank is that they did away with overdraft fees. Your account will either be denied to complete the transaction or you can have an overdraft protection account where you have a line of credit that is only used for reimbursing transactions that you have over drafted on. I have never seen ODFs that high before. The most I ever got charged was ~$30, nowadays it is just ridiculous!
Apparently the reason they don’t have overdraft fees is due to a lawsuit. They reordered how they processed transactions like Trevor explained: from biggest to smallest, not in chronological order, in order to overdraw accounts to maximize collecting fees. The result of the lawsuit is that they weren’t allowed to do that and had to pay back every single overdraft fee. They probably leave that part out of their marketing though.
Thanks much Trevor, watching your show regularly relieves stress, educates, but today bro! You saved me 29.00 bucks. I was charged last month overdraft fee for nothing. I called my bank "USAA" and they returned my money and promised to end the practice soon. By the way, for the hackers seeking my bank info, remember why they charged me overdraft fee, I am a new member of Broke bank. Nevertheless, great job!!! I got paid watching your show... Can I get a regular job watching...
I won against overdraft fees with my bank because I made it clear that I wanted to opt out, but they charged me anyway. Got it all erased.
My bank does something you didn’t cover. I’m dealing with overdraft fees today. I had Hulu auto renew even though we had cancelled it. It took two further calls to customer service to get them to return the payment. I was actually charged two overdraft fees for this Hulu withdrawal. It was in my account as “pending” for 48hours. I got charged a $30 overdraft when it showed up pending and another $30 when it posted. The banker I dealt with tried to tell me that the account went negative on a gas charge the day before; but backed down when I read several days transcript off of my phone. In the past I also had an issue where I had ordered 8 items from Amazon in the same order, but had a forgotten bill withdraw. The Amazon order hit my account as 5 separate charges even though they were ordered together, yielding 4 overdraft fees for the same order. Almost smells like collusion.
I just realized, my bank definitely does this. I check my account after ever purchase and the smallest ones always come out last even if they are my first purchases. I always thought that was weird and now I know why they do it... Wow
Me too I didn't understand because I didn't know but now I know. I realized the order wasn't as per purchase.
Same here and I've had my credit union for over 20 years.
Change banks.
Why on earth would you check your balance ever?
According to the comments you should spend more than you have then complain endlessly.
I noticed this before and called them out on it. Then I quit doing my business with them. They knew I knew they were re-arranging my transactions to f me on purpose.
Yep, and sad i was a programmer for a bank - they have coding that even waives overdrafts for it's elite customers - the more you have they less you pay. They would even do that rearranging stuff to the employees - like a rearranging your purchases after the direct deposit of your payroll check - they have no shame 😔
Just a different perspective to bring here. I work for a small bank. At account opening our customers watch a video explaining overdraft and let you chose whether you want to be able to overdraft or not. Credits post before debits, fees are limited to a max of 2 per day and 10 per month (again, IF you chose to allow overdrafting) we allow you to go under by $12 with no fee, and if you do overdraft you have the entire next day to put the money in and the fee is automatically reversed. Also, we have a back up savings account that automatically moves your choice of an amount on payday from your checking and helps you save while also protecting those accidental overdrafts (if you have enough in the savings to cover it, it transfers and avoids the fee) plus you have 24/7 free access to your app at the touch of a button on your phone to check your balance before you make a purchase and alerts via text to tell you when you have gone under $50... when does the burden of keeping track of your own spending fall to the consumer?
This is why I went to a credit union and have never looked back. The bank lady at Wells Fargo almost cried when I withdrew my money. "Is there anything we can do to make you stay?" TOO LATE!
Unfortunately some credit unions do it too. Mine used to not do it, but they started doing it after they did a big rebranding and a ton of advertising about how customer service friendly they are.
Even you don't have od the charge for not having enough money in the bank
No Wells Fargo lady cried 😂😂😂😂
@@mr.balloffur ALMOST. More like crocodile tears.
Videos like these is what makes me support Trevor Noah for all these years. They stick it to us and Trevor does the same to them lol.
There is no embarrassment when one has learned humility.
Bank of America told my friend this year there is no banking guideline law that customers must opt-in for Overdraft Fees. It is a requirement for all their accounts with no way for customers to opt out. Unless, unless you have at least $50,000 + switch to a new program that offers no overdraft fees as one of the rewards.
I went through all this with bofa,wellsfargo. After the lawsuit I got $ 3.47and $8.47 out of the whole thing. Court fees, for the bank. And all lawyers fees came out first. 62%of the rest of the money was spread over all the victims. Thusly the checks.
yeah, those lawsuits are for the lawyers. So ridiculous.
I didn't even bother with the class action for BofA. I already knew amount I'd get from the suit wouldn't have been nearly the amount they charged me in fees.
Me too for BOA. I refuse to bank with them again. I deposited a BOA check to cover my BOA payments. They held the check for 5 days knowing that my BOA loan payment and BOA credit card payment was going to hit the account. They charged me overdraft and NSF fees BOTH WAYS. all of them being with Bank of America and I got $10 back from the lawsuit. I have never had a check held for 5 days especially not an in-state check. Banks practices are criminal
I received over $400 back from Wells Fargo after 7 years.