2006-09-09 08:47:37 · 14 answers · asked by ? 6 in Business & Finance ➔ Personal Finance
Basically it's the banks way of fining you for writing a check for more money then what you have in the bank. It's a punishment for bad behavior. Life is full of fines for bad behavior. That I do not have a problem with. I just wish there was a way to fine the bank and have them put money in your account for when they behave badly.
2006-09-09 09:19:41 · answer #1 · answered by imstrngr 1 · 1⤊ 0⤋
Set up a savings account at the same bank if you do not yet have one and have the bank link the two accounts so that if your checking account happens to go too low, the system will automatically pull the difference needed from your savings account. By doing it this way, you will not be charged over draft fees.
I hope this helps you. Take care!
2006-09-09 16:37:35 · answer #2 · answered by son-shine 4 · 0⤊ 0⤋
This has always boggled my mind. If you spend $30, and there's only $20 in the account, where will they get the other $10, plus the fee? Banks are weird institutions.
2006-09-09 15:50:14 · answer #3 · answered by liberatedlookingatyou 1 · 0⤊ 0⤋
Because YOU are supposed to know whether or not there is enough. It's a penalty to get you to mind your money better because when you go NSF, you make more work for the bank.
2006-09-09 15:54:32 · answer #4 · answered by Me in Canada eh 5 · 0⤊ 0⤋
Because they are a business. Also, you should be able to keep track of how much you are spending. I have had a checking account since I was 14 and have never overdrawn. Pay attention and stop spending what you don't have!!
2006-09-09 16:47:27 · answer #5 · answered by amanda 3 · 0⤊ 0⤋
Because you made a mistake and the banks want to make darn sure you know you were stupid. Not to mention they make a ton of money are our errors. It's the American way.
2006-09-09 15:54:16 · answer #6 · answered by shanney fan 3 · 0⤊ 0⤋
To discourage you from writing even more bad checks that you don't have the funds in your account to cover!
2006-09-09 15:50:59 · answer #7 · answered by dualspace 3 · 1⤊ 0⤋
It's because they want you to believe they are the friendly bank in your neighborhood but they will be the first one to kick you when your down.
2006-09-09 18:13:59 · answer #8 · answered by ? 6 · 0⤊ 0⤋
that the fees for reporting insufficient fund..... hahahahaha
2006-09-09 15:51:22 · answer #9 · answered by Peihong 1 · 0⤊ 0⤋
because it costs them every time you bounce a check so they pass the fee on to you, and then extra for processing it.
2006-09-09 15:54:13 · answer #10 · answered by Chad 1 · 1⤊ 0⤋