Seehaze J
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you sign the agreement, its up to you to not go over it... can't blame the bank, they don't make you spend more than you have... |
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blklacquer
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nope, there are people who, don't go out and purposely write a hot check, and I think they should be a little easier on those people. I'm sure you can look at the account and tell who is writing hot checks and who forgot about a check they wrote or made a miscalculation. Everybody that has a check book isn't a CPA. |
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fast_7742
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You have to remember that there is no such thing as a fee lunch |
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Dr. Wu
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There is no right or wrong. It is the structure of the contract that you signed and didn't read or understand. Why do you think it is the banks fault for you not being able to control your spending? |
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steven e
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lets go back to the old days and you looked after your money and we could wipe out debt.£3.5 trillionis a lot of debt. |
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Ahwell
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People should know when they're over their limit, it's not the bank's job to hold everyone's hand. |
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Steveo
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If you don't go over the limit, and you are aware of it, then you should be charged.
Go over the speed limit, you can be charged for speeding.
Same difference, as you know the rules in the first place. The only difference is that the bank will catch you every time. |
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ka
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if you are going to use their money they will use yours. |
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Mike M
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the banks have a racket just like the mob. I am currently fighting a ?hacker? that cleaned out my account and left me $600 overdrawn. The bank charged me almost $200 over draft and when I went in and raised hell they filed a paper and said wait 3 weeks. If any legitimate business tried this the gov would be jumpin on them. I am a small business owner and deal with these gov assholes all the time!! |
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gazuk
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whilst i can see the point that amny on here are trying to make about knowing your limit etc what happens when the following happens ( it used to happen to me regularly)
you inadvertently go over your limit and as soon as you notice you put cash in to bring back into your allowed limit. however the bank then deduct their charge for being over the limit, which puts you back over the limit, so they then charge you again. surely that cannot be right thats just daylight robbery by any other name.
also on numerous occasions whilst my account was already over the overdraft limit and before i was aware of it my bank would continue authorising each and every transaction presented including maestro transactions and merrily charging £35 for each and every one . i am sure that you can understand that if the bank do this 4/5 times in one week then it becomes a vicious circle which it is inceasing difficult to break free of.
hope this is of help to you in your query |
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single occupant
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I think people should not go over the limit. I've lived my entire life without doing it.
However, given the general worship of credit, people are lured into this.
The interest rates amount to usury, against which there was once a law. |
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Jonathan
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Yes; I think people should resist over limit charging.
The culprit in the interest rate is the private unconstitutional Federal Reserve Board.
They charge us their prime rate interest for the use of our own currency - with out investing a single dime of their own. |
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evanlah
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I agree with it. You make a contractual agreement with the bank for a certain limit. They allow you to go over for your own conveniences, but you will be penalized for it. If you cant manage your finances, then you shouldnt have a credit card. I think if people keep abusing it, they should close your account. But they dont! |
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debbie
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People should NOT go over the limit in the first place, but it's your choice. If you go over the limit, you'll be charged for it. Like taking out a mini-loan. Almost any time you are spending money that is not your own you will have to pay it back with interest. Be smart and only spend money if you have it!
"The borrower is servant to the lender." Proverbs (somewhere) |
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Lynn
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Yes, it's right for them.. |
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Barkley Hound
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I really don't care about my limit. It is well above what I could ever charge. I pay my bill off every month and never carry a balance from one month to the next.
✩ |
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Kathryn
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I think it's the account holder's responsibility to not overdraw his account. If he does, then the bank is within its rights to charge interest and penalties. By the way, you can buy a DVD of Maxed Out on ebay for about $15. |
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Jacque' M
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Its taboo...
DON'T FALL FOR THE HIPE...
Don't go over the limit..
It is a bankers heaven.... |
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voluntarheel
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No it isn't right that they do this, but that is where they make most of their money. On the other hand it wouldn't hurt consumers to be more educated about credit and personal finance. You should watch the documentary Maxed Out (or read the book by the same title). It's about the credit industry - interesting stuff. |
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xfilesfan
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Well, banks let people go over the limit because it gets them lots of money. It's not the bank's fault that people are in debt. Quite frankly, it's the fault of everyone who's careless enough to spend more than they earn. |
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Swansea
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Yes it is right, the charge you get does cover the cost of you going over drawn. People think that it doest cost the bank anything but when you go over your limit it costs the bank loads because then you account needs to be looked at by a credit service and that takes time recorses and staff. They leave u go over your limit to save you the embarisment of your card getting declined and thigs so actually they are doing you a favour. |
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Joey Michaels
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No it is wrong. This is why I wanna be a banker. |
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Frank Castle
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Yes. |
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Jim
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The banks are happy to lend you all the money they can with the intention of making as much money from you as they can. |
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madsmaha1
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Everyone makes mistakes....I only had about $5.00 in my account left, and they were charging me $7.00 for overdraft charges!!!! Idiots..they soon tired of that!!! |
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themeindzeye
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Well, the bank has this listed in their policies and you should be aware of it when signing up with them. You signed the agreement that said it was fine, so they have every right to do so. |
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GMC1003
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it is not that hard to balance your check book. and yes the banks should charge for overdrafting your account. it's your fault and they had to cover your *** so the vendor you paid doesn't come after you. either manage your money better or pay the bank and shut up about it. |
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