GoFuckYourself.com - Adult Webmaster Forum - View Single Post - U.S. banks make 38 billion from overdraft fees

Mr. Billy · 08-10-2009, 01:52 AM

That was my bank. One of the biggest problems I had was using their online system to check your balance and view transactions.

Let's say you had 100.00 in the account. You would look in the online system would show this as your balance.

Next you make a credit card purchase for 50.00.

You would watch the online system until you see that 50.00 transaction posted and your balance available would show 50.00. No problem.

Once the credit card transaction has been posted you forget about it, and assume it is reflected in any future balance that you see.

However frequently for some reason I could not understand these posted transactions would be unposted I guess because authorization was slow or something.

So if you use the online system to get your balance, you will log back in and see that you have 100.00 available in your account. In your mind the credit card transaction has already been paid.

So you spend the 100.00 on something feeling comfortable that your account is in good standing. Only to have the credit card posted again and causing an overdraft.

It was an unmanageable situation. Having the online system practically bait you into overdrawing your account is just not something I wanted to deal with any longer.

I became better about managing my account with them and my banking relationship improved, but as soon as I had a chance to do it I joined the credit union. The fees are lower and they are much more user friendly.

08-10-2009, 01:52 AM
Mr. Billy Confirmed User Join Date: Feb 2005 Posts: 467	That was my bank. One of the biggest problems I had was using their online system to check your balance and view transactions. Let's say you had 100.00 in the account. You would look in the online system would show this as your balance. Next you make a credit card purchase for 50.00. You would watch the online system until you see that 50.00 transaction posted and your balance available would show 50.00. No problem. Once the credit card transaction has been posted you forget about it, and assume it is reflected in any future balance that you see. However frequently for some reason I could not understand these posted transactions would be unposted I guess because authorization was slow or something. So if you use the online system to get your balance, you will log back in and see that you have 100.00 available in your account. In your mind the credit card transaction has already been paid. So you spend the 100.00 on something feeling comfortable that your account is in good standing. Only to have the credit card posted again and causing an overdraft. It was an unmanageable situation. Having the online system practically bait you into overdrawing your account is just not something I wanted to deal with any longer. I became better about managing my account with them and my banking relationship improved, but as soon as I had a chance to do it I joined the credit union. The fees are lower and they are much more user friendly. __________________ Last edited by Mr. Billy; 08-10-2009 at 01:53 AM..