2006-11-02 03:53:03 · 18 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
Because banks are pimples on the bottom of capitalism. :-)
2006-11-02 04:02:21 · answer #1 · answered by Stephen L 7 · 0⤊ 0⤋
Usually the banks will have requirements for different kinds of accounts. There usually is a minimun you have to keep. When you have a charge for insufficient funds, the bank has to cover you b/c you don't have enough money. It's like a late fee you would get when you don't pay your credit card on time. It sucks but that is how banks are run.
Check with your bank and see if you can link a savings account to your checking account. That way when you don't have enough money in your checking account from ATM, Debit purchases or checks, the money is transfered from your savings account to cover what amount not available. There might be a small fee involved but it beats having a daily charge for the insufficient funds.
2006-11-02 04:08:17 · answer #2 · answered by sweetsxyazn2002 3 · 1⤊ 0⤋
It may seem obvious, but it's because they want your money!
Safe in the knowledge that - at some point - you will put more cash into your account, they can happily apply a charge.
Some particularly mean banks have a habit of charging you a fee for an unpaid item, then charging you a second fee for going overdrawn due to the first fee!
How generous of them...
2006-11-02 04:04:45 · answer #3 · answered by Anonymous · 0⤊ 0⤋
because they are sharks! they know you can't use your bank account again till you clear the charge and will refuse to close your account too, resulting in bad credit if you don't put the funds in. However, banks are not allowed to apply charges that are "disproportional" and this is going to be regulated in the next couple of years, they are only allowed to charge you to recover their costs (and we all know it don't cost them £40 to send you a letter) there is a website called "Money Saving Expert" which explains how to recover disproportional charges from your bank.
2006-11-02 04:00:26 · answer #4 · answered by ALEX K 2 · 0⤊ 0⤋
Because they are greedy and want to kick you when you're down.
I had a friend who ended up a couple of hundred pounds in the red because a direct debit 'bounced' (for the sake of being 47p short in his account), and he got charged £5 a day until he could pay it off -- which after a few days he could not.
2006-11-02 03:57:06 · answer #5 · answered by nettyone2003 6 · 1⤊ 0⤋
Because they will cover the charge for you and that's gonna cost ya! I know! It happens to me all the time. My bank charges $25 each time! I hate my bank!
2006-11-02 03:56:06 · answer #6 · answered by miyazaki75 4 · 1⤊ 0⤋
Because you are charged for not running your account correctly by making sure you have sufficient funds to cover your outgoings and also because they are greedy pigs
2006-11-02 03:56:15 · answer #7 · answered by MGN2006 4 · 0⤊ 0⤋
For anyone who has been charged by their bank in the past, read this...................
http://www.thisismoney.co.uk/bankcharges
it tells you what steps to take to claim back the unfair charges banks impose.
2006-11-02 04:06:51 · answer #8 · answered by Lost and found 4 · 0⤊ 0⤋
because banks want your money........I used to pay 400-500 a month in bank charges.....ouch that hurt.....I invested in Mirosoft Money 2005, Took me 1 year to clear all debt's, now I dont and wont pay any charges....so invest in 20.00 for programme, it could save you loads....and dont pay those banks any more!!!!
2006-11-02 04:03:50 · answer #9 · answered by anthony * 3 · 0⤊ 0⤋
Because they know that you will eventually have to put money into the account,
2006-11-02 03:57:00 · answer #10 · answered by Ivan 3 · 0⤊ 0⤋