angie
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Its to cover the costs of returning the item that they could not pay due to inssufficient funds.
Banks have overheads and have to pay their staff.
The staff had to do more work on your account than one that has sufficient funds therefore you get penalised by way of a charge. |
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sort187
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Because you are actually taking a "short term loan" from that bank...in other words, the bank is covering the balance of what you were short when you withdrew, but you won't get that safety net for free....you have to pay a penalty for that coverage. Read the fine print in the contract you signed when you opened your account. The bank reserves the right to charge you for overdrafting your account. |
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step b
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thats a good question. I guess they charge u for wasting their time. |
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katrinasfather
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Its the fee that is excessive , not the right to do so.
Try writing a letter of complaint with a charge included for doing so. |
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Oh no!
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Because they don't want their customers who have money in the bank to leave. They can't therefore fine them so they make money by picking on those who they know have no choice. |
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ghostwalker077
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that a way of makeing money, they know you ,most write dont have the money in the bank, an to get 25 an up for a hot check, is easy money to them |
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Loxie
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I know, cheeky bastards aren't they. If we were to take money out of people's accounts it would be called theft but when they do it it's called business. If you ask the bank why they charge a fee for "insufficient funds" they will say it is to deter people from being overdrawn. As if you can be deterred fom being skint. der! Ther's only one reason a bank does anything, and that's to make money, and they don't care who they hurt End of story. |
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9 mth old & another on the way
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they also charged me an overdraft fee when its was there overdraft fee that took me over my overdraft. dick heads |
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Roxley x
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cos u should only spend what you have |
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Tom B
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Just another way of strangling those that are down already. |
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J9
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they charge because of admin fees, sending letters to notify you you've gone overdrawn, but invariably they are overcharging which is illegal......if you look at the link below you can claim it back if you think its unfair! |
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lisa_t197
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by law their allowed to. its the amount they charge which is questionable. you can claim back all the charges over the last 6 years. search the web on how to do it. bbc.co.uk gives you a good idea |
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talkingformydog
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One of the many things our "friends" the banks do !!!! They know we need them in someway in our everyday life and some take a real advantage of it. You can always compare the fees charged by different banks and go to the one that corresponds the best to your needs.
Anyway I don't like banks since, many years ago, i realised that when asking for a loan they actually lent you ...your money and make you pay interest on it !! |
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cottagstan
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It's a great way for them to boost their profits! They just simply take it when you make your next deposit. |
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sm bn
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bank oddly make money from pople who has not enough money and lent it to the rich |
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Sam
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Because they are bastards! Money-hungry bastards! Which is ironic as they are supposed to look after our money!
I was recently charged £30 for going over my limit due to a charge that THEY took out! Bastards, as I said. |
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The Great Escape
|
Cos they are greedy tw@ts and love to get rich at your expense. |
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Omgitshim1
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I disagree. The banks may say they charge a fee for this, but I charge a fee for opening the letter that they send to tell me that they have charged a fee. Therefore, it all evens out in the long run. |
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I'm Sparticus
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It's easy to take pickings from the poor. As they say'if you owe the bank small amounts then you have a problem. If you owe them millions, then they have a proble.' Good luck with your finances. |
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bow
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because banks can legally screw us for money under the pretence of covering their costs. this is why they make such a huge anual profit.
when i see a charge on my statement i phone the bank and tell them that i can not afford to pay the charge... i tell them that i could not possibley live if i paid it etc (lay it on as thick as possible) and most of the time hey will cancel the charge. thus goes to show how little they need the money and the con that it is |
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Matt
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Because capitalism thrives on taking from those who have the least. |
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