It's interesting that since the economic fallout of the financial industry, banks suddenly started soaking their customers. When one overdraws their account accidentally, they expect to pay a hefty overdraft charge - ONCE. Being charged an additional daily fee on top of this is unethical.
Filing a complaint with the appropriate federal agency - not sure if it is SEC or FTC, may at least show people are upset with this practice. The credit unions are also an option, as the other commentor suggested. I will be filing a complaint with the bank and the appropriate agency.
If I get no results, they can stuff their fees and I will close my account. While receiving a hard copy paycheck and cashing it at the grocery store is inconvenient, I'm not sure I want to pay $8 a day on top of $37.50 if I make another accidental overdraft.
I just paid $95 for a $40 overdraft - when my direct deposit paycheck would have been in the next morning. Not playing that game anymore! The financial industry already got their bailout - they don't need to soak customers for any more.
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