After reading the consumer rebuttals, I have a clearer understanding of how the banks work. I am hundreds of dollars overdrawn in my account, due to what everyone else is saying. I had a lot of money in my account and was just a-spending it away and not keeping good enough track of what I was doing. I KNEW that banks put through the largest item first and then the smaller ones. I KNEW that I should keep a checkbook register instead of relying on the Online Banking. SO THEREFORE, I can only blame myself for my situation.
If I had managed my money better, then NO MATTER HOW MANY TRANSACTIONS I MADE, OR WHAT ORDER THEY WERE PUT THROUGH, I WOULD NOT HAVE RECEIVED ANY NSF CHARGES! If banks put the largest transactions through first to make sure that car payments, loans, mortgages, etc. Clear before Taco Bell, gas and entertainment charges, then GOOD! I didn't realize that until reading some of the responses to consumer issues. I'd rather my RENT go through than my lunch at Taco Bell... I'd rather have 5 or 6 OD/NSF fees than to have my mortage not paid.
All the banks I know do the same things: largest items are put through first, then smaller ones. Deposits, UNLESS THEY ARE CASH, are held for AT LEAST one business day. They will tell you that if you want your deposit credited immediately, DEPOSIT CASH! I'd rather spend $20 in check cashing fees than $35 in OD/NSF fees! Transactions DON'T CLEAR in the order you make them... But in the order the BANK RECEIVES THEM!
Yes, I've had a transaction disappear for a day and cause me fees, which I still don't understand, but either way, it all comes down to OUR OWN spending habits! Keep a checkbook register! Do not rely on Online Banking for your balance! Keep all receipts! Balance your checkbook (all bank statements include a sheet for you to balance your account on... USE IT!).instead of using your card for 20 transactions, keep some cash on you! (Though I hate to do that, too, because hell, what if I'm robbed?! Then I'm screwed!).
If you have $100 in your account, and you write a check for $101, it's your own fault if you get an NSF fee, because YOU didn't have enough money in there when you wrote the check! Banks are there to make money too, and yes, sometimes they are really unfair but that will happen anywhere! If you don't like how banks do it, get a PREPAID DEBIT CARD! Greendot! Advance America! You pay a bit more money but you don't deal with banks anymore! Go to a cash system! It's a bitch but it works for some people (not me!). Otherwise, don't give the banks a reason to get fees from you.
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