2007-12-13 05:03:55 · 9 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
Because they are c#nts
2007-12-13 05:07:47 · answer #1 · answered by Andy C 3 · 4⤊ 1⤋
This is an important revenue source for banks. Many banks now "encourage" you to use your account like instead of using a payday loan. Commercial banks know that payday loans are a lucrative business and NSF (Non-Sufficient Funds) fees are a device they use to get in on the action.
Alternatively, if a bank didn't want to honor you debit card purchases or checks they could simply deny the debit card purchase at the point of sale, or send a check back as unpaid.
2007-12-13 05:09:06 · answer #2 · answered by Brian C 2 · 0⤊ 1⤋
To make more money. All these fees for transactions that cost them virtually nothing, pennies on the dollar. It should be a law against this but there isn't. Ask them to take away the fee or just say you are taking your business elsewhere. I have done that before and love my current primary banking institution.
2007-12-13 05:15:27 · answer #3 · answered by Veritas et Aequitas () 7 · 0⤊ 0⤋
Banks have long been accused of ripping off customers with the high charges they impose for minor account problems.
This has been the reason for the claim back unfair charges campaign.
2007-12-13 05:16:11 · answer #4 · answered by Fred3663 7 · 1⤊ 0⤋
My husband works for a bank and this always baffles him, it just puts people into more debt and makes the banks a shed load of money!
Tim must be one of those who get whacking bonuses at christmas. It only costs £2.50 to write and sendthe standard letter. They are tight gits but may be one day we might get our own back.
2007-12-13 05:13:44 · answer #5 · answered by Soup Dragon 6 · 1⤊ 0⤋
Because it's their way of making money. Sometimes they will charge you the fee but pay the item, sometimes they won't. Either way you get charge the fee anyway.
2007-12-13 05:08:54 · answer #6 · answered by Jen 3 · 1⤊ 0⤋
This happened to me yesterday!! it let me take out 20.00 when i only had 16.00 now im getting charged 30.00!! Im well p!ssed off!! Its their sneaky little way of making money off people that are skint, just to add to their already wealthy bank accounts!! I hate banks!! They suck!!
2007-12-13 05:08:28 · answer #7 · answered by Anonymous · 4⤊ 1⤋
Because they are thieving tw@ts abusing the system, Come unstuck though and i got back a grand!!! HAPPY DAYS!!!
RE: Tim above! 30-40 pounds for a stupid letter??
Elaborate and justify!?
You cant can you?
ITS ILLEGAL!!!
www.moneysavingexpert.com
2007-12-13 05:08:07 · answer #8 · answered by Mick77 2 · 3⤊ 1⤋
To cover the special handling costs that they occur.
Another question would be... Why do people write checks when they know there is not enough to cover them in their account?
2007-12-13 05:08:04 · answer #9 · answered by Tim 7 · 0⤊ 3⤋