Overdraft fees are not cheap. Used to be that when your check got bounced you got a $25 fee. The bounce check fee was a reasonable, valid fee since it was the customer's fault who wrote the check. But overdraft fees are a different ball game.
Wells Fargo makes money off this, this is a money generating effect. Overdraft fees account for almost 25% of their non-interest income (according to http://www.billshrink.com/blog/bank-overdraft-fees/). Ever since they changed the law to where you can get up to 5 overdraft fees per day instead of having a bounced check fee they have mad tons of money on this.
They will reverse one or two but they get u right back. You see it's all a computer program that sits there and analyzes your spending behaviours. How much on average you make every two weeks, when usually you start running low, what you spend your money on... The list goes on. The overdraft fees is a computer game where it sits there plays with your transactions until somekind of fee shows up.
It can get pretty confusing if you try to follow it. For example if they give you a free savings account, what the computer does is charges you an $8 fee then deducts $8 back. It doesn't just say why don't I just not even charge the fee if I'm going to have to deduct it anyway, it doesn't work like that. Then there are some transactions that get paid (pending charges getting handled) almost instantly to some where it can take up to a week. It all depends on where you are at financially. Transactions jump around, something you bought last week wasn't paid yet but this mornings breakfast allready did.
They pay the biggest amount first then pay the smaller ones after, why? If they paid in the order they came in they won't make any money on overdraft fees.
The point I'm trying to make here is: it is a computer program that is playing you for a fool. There is nothing you can do if you are a normal, modern human being that uses their debit card for purchases. The bank managers will undo up to 2 fees every 6 months but all that happens is the computer makes up for it by becoming more aggresive.
You go to the bank, and complain about why transactions were magically jumpin around you will sound like a mad man. The person that looks at the account doesn't see what jumped around, all he is trained to do is blame you and think you are fool. If you want to get ripped off; wells fargo, bank of america are waiting for you. They will even throw in a free T-shirt for being able to rip you off. Don't wait, do it now, pick up that phone or walk right in to a branch and start paying for their manager party in Las Vegas. Do it now...
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