I have been spending hours reading some of the RORs about the banks overdraft fees and being a payer of these fees there is a simple way to put this The bank will not reflect account activity correctly why this is what a bank is for I am willing to pay for that service but they will not offer it so they can make billions on overdraft fees by manipulating debit and deposit dates If $5.00 is spent on the 23rd the money should be deducted on the 23rd and if it overdraws the account then a overdraft fee is justified and is not a crime by the bank or by the account holder if it is in the contract
If the account has $5.00 in it on the 23rd a overdraft fee being charged it is fraud so the bank will say the merchant has not submitted it yet but the bank knows the debit has been made so they should deduct it at that time If the bank receives a electronic direct deposit from itself on the 26th then the deposit should be in the account on the 26th The issue I have is the bank will manipulate the dates of debits and deposits to charge fees this is how the bank stole my money It is that simple when I opened the account there was nothing in the contract that gives the bank the right to manipulate activity dates and re-sequence debits after holding and delaying deposit transfers between accounts at the same bank to charge overdraft fees
So how can a self kept register work if the bank manipulates the dates when the bank holds a deposit long enough the account will overdraft That is a crime and needs to be stopped and the money they stole needs to be paid back with a penalty and the underhanded sleazy bankers that devised this belong in jail with robbers drug dealers and thieves It is wrong it does not matter how the bank employees that rebut this webpage try to manipulate words but the truth is so simple The only way the banks have been getting away with this is buy payoffs
Can you imagine if the electric company told you have to keep a register of all the kilowatt hours you use by timing all your electric devices If you go over your monthly allotted amount that the date is manipulated by the electric company you have to pay a huge fee for every devise that is turned on there after If you dont want to sign the contract live with out electric why wood this be any different
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