is their a bank that doesnt charge outrages over the limit fees?

Question

people make mistakes forget they bought something etc. is there a bank that doesnt take advantage of minimum wage people who accidentally go $.30 over then make a deposit of say tip money not knowing they over drafted? Then try to pay some bills with the money they thought that they had, but the 60 dollars they deposited means they have 25-30. then say they paid 50 dollars worth of bills that ends up costing them 80-110. it seems a little outragous. Interest on the overdrafted amount or a smaller overdraft fee seem like a good idea.

Answer 1

You might try opening an overdraft protection line of credit or account. You dont need to have alot of $ in it, just enough to cover in case of a slip up. if you overdrawl your regular account they will withdrawl it out of your overdraft account and you wont get charged anything.

Answer 2

They do this so that if you have an emergency and absolutely need the money right away, you can get it. For example, it's January 20th, and your entire heating system just broke. The cost of repair is $5000. You won't get your paycheck until January 31st, and you won't have enough cash to pay it until then. You can't go without heat for eleven days in the middle of winter. Your credit limit is $5000, but you currently have a balance of $100. You are a responsible credit user. Your credit card company decides to approve you going $100 over the limit because you are a responsible user and have never or rarely done this before. They charge you a fee, because they are doing you a favor, and they do not wish you to do this regularly. And I expect that in the middle of the no-heat-in-winter emergency, you would be more upset if they did NOT allow you to go slightly over the limit. It's a courtesy on the part of the credit card company, although they do charge you for it. And I expect that if you do read all the fine print in your terms and conditions you will find a reference to this.

Answer 3

Unfortunately, this is how banks make money. You could look into overdraft protection, but bear in mind that often what the bank charges you each time they have to tap your overdraft protection account is the same or slightly less than the actual overdraft fee.

Answer 4

Not anymore. Look into signing up for "overdraft protection" at your bank. A credit union may charge less for overdrafts. Years ago I was overdrawn by 3 cents. The teller was rubbing it in saying "my goodness you are only 3 cents overdrawn and you are being charged $25.00!!! I complained to the bank manager who removed the fee. Give that a try too sometime. Good luck.

Answer 5

No, they all charge fees so you are more careful and they can make money. If this happened once they might reduce the fees but not it you are careless.