Why do banks charge you a "non-sufficient funds fee" on money they already know you don't have?

Answer 1

Because banks are run by greedy little money trolls who have nothing better to do than to take every little bit of money they can from you!

Answer 2

Its just a way to keep the poor poor and the rich richer. They take all the money they charge people for insufficient funds and put that money in the bank accounts of people with at least $1,000,000.

Answer 3

I know a bank that covers multiple checks because they know there is an automatic deposit coming. But they charged my step-daughter $31 per transaction for "overdraft" AND another $31 for "insufficient funds". That is how they make their money on a "free checking account".

Answer 4

So you won't do it again is all I can think of. I always wondered why they continue to charge when one check has already bounced. I always thought charging one fee per day was sufficient instead of charging one fee per check. I mean people make mistakes but if they charged one fee per day instead of per check they wouldn't get as much money would they?

Answer 5

They charge the fee to discourge over spending but they also charge you the fee because they covered the payment for you. They pay the bill now you owe them not the resteraunt/bar/store/shop/etc. they charge a fee for covering the bill that's the idea anyway.

Answer 6

So taht you won't go and try to change a check you already know has no funds.

Answer 7

Not all banks do. Some offer overdraft protection.

But to answer your question, because they're pretty sure you'll pay it and we all like having more paper.

Answer 8

The same reason they won't loan you money if you really need it... but if you don't, they are all over you to borrow from them!

Answer 9

It's easier to rob poor people.

Answer 10

Extra (future) income.