2006-06-29 15:19:58 · 10 answers · asked by firefly37830 2 in Business & Finance ➔ Personal Finance
please note... this is general question. I don't write hot checks. Just a question. Sheesh!?
2006-06-29 15:27:40 · update #1
Because they can and will: because they are greedy and mean like most of the folks answering your question. I mean really, should a minor maths error of two pennies end up costing someone anywhere from $30-50 in fees, each damn time??
Honestly this is nothing *but* free money for the banks and we should NOT have to tolerate their being such lunkheads and muggers, not everyone is going to have a calculator on them *or the time* to do the math each and every time.
This is why I don't let the banks have *one red cent* of my money lately....their "fee-isms" have gotten absolutely and positively out of control, it's gotten to the point that they want to charge you for the almighty "privilege" of talking to a real person on their phone help lines instead of being stuck lurching around on their clunky Windows-95-driven voicemail systems...
Between this and the decadently excessive interest rates and predatory habits of credit card companies, it's a wonder I don't just become a monk and *give up on money* altogether.
2006-06-29 15:31:57 · answer #1 · answered by Bradley P 7 · 1⤊ 0⤋
Because when you spend more then you have in the bank, the money comes from them and they charge you a fee in return for that. Although I think it sucks that most will charge the same fee no matter how much... like mine would still charge thirty-some dollars if you only overdrew it by a nickle... And as you point out, you don't even have the money to pay it back. Luckily I've only ever done it once.
2006-06-29 15:31:56 · answer #2 · answered by Indigo 7 · 0⤊ 0⤋
Because that's their rules and that's how they make money! Even though some rules are a pain, every business has to have rules. But these fees can also serve as a reminder 2 keep your money right: u don't go under a certain amount, u don't have to give them any extra money aka fees!
2006-06-29 15:58:41 · answer #3 · answered by Miss Missy 2 · 0⤊ 0⤋
Hahaha, yes that is a good question. I guess for the same reason that credit card companies charge you over the limit fees (if you had money you wouldn't be over the limit) and land lords charge late fees. To make sure that you dig yourself in a deeper hole!
2006-06-29 15:34:47 · answer #4 · answered by Diamonds_4Ever 3 · 0⤊ 0⤋
You should be smart enough to add & subtract. If you can't then chargeing you a overdraft fee is to pay for the employees who can.
2006-06-29 15:25:16 · answer #5 · answered by tony 2 · 0⤊ 0⤋
To make money off of stupid people.
That why the rich get richer and the poor get poorer.
2006-06-29 16:55:53 · answer #6 · answered by Amanda 3 · 0⤊ 0⤋
It is a strong deterrent and they will collect their fees as soon as you many a deposit
2006-06-29 15:42:15 · answer #7 · answered by ps2754 5 · 0⤊ 0⤋
To remind you not to write hot checks....
2006-06-29 15:22:56 · answer #8 · answered by RN BSN 3 · 0⤊ 0⤋
That is how they make most of their money.
This is why they are rich and we are tyring to get rich.
2006-06-29 15:24:02 · answer #9 · answered by Anonymous · 0⤊ 0⤋
because you shouldn't spend money you don't have
2006-06-29 15:24:47 · answer #10 · answered by andiz79 2 · 0⤊ 0⤋