meangyrl21
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Great way for them to make money..and a way to teach you to balance your checkbook, lol |
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phaze1bj
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THAT IS ONE WAY THEY GENERATE REVENUE FROM CUSTOMERS. STUDIES HAVE BEEN MADE AND REVEALED THAT A CERTAIN PERCENTAGE OF ALL DEPOSITORS WILL LAPSE HERE AND THERE WHICH THE BANK CAPITALIZES ON. THESE REVENUES ARE ACUALLY IN THEIR OPERATING BUDGET. |
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Miss Amberness
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Cuz like the rest of the world banks are just here to make some dolla dolla! |
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tarotfaery
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Because you shouldn't be using your debit card, or writing checks if you don't have the money to pay for it. Your fault... now you must pay more for your mistake. If you make sure you have enough money for something before you buy it, you wouldn't have this problem. |
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wannabebeachbum
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I've always thought the same thing! |
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scottbradentx
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I'm speculating, not a banker:
1) Because they still have to handle the transaction, and it causes a lot of extra work for them if the check bounces (they have to send it back to the merchant, have to notify you, etc).
2) Because it's "common practice" and a nice little extra bit of revenue.
By the way, some banks offer "overdraft protection" which is basically a paid monthly fee to cover you if you bounce a check.
My bank lets me tie my checking to my savings, so I always have a little extra in case we write too many checks. Haven't had to use it in a long time, but back when we were struggling it saved a lot of $ in check bouncing fees. |
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wildrover
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It is a punishment/penalty/consequence for there not being enough funds(you not making sure) in the account. |
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Rich B
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#1--Checking accounts are not designed to have negative balances.
#2--It is a pain in the butt to deal with overdrawn accounts and returning checks.
#3--It teaches you to be financially responsible and to balance your checkbook at least monthly. |
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Badkitty
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Yes they do. Probably because the check writer should also know the funds are insufficient to cover the amount written. |
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Anna
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I work at a bank. There are many different scenarios involving insufficient funds. If you write a check from your account to a business or another person and that check goes through their bank, your bank will have no way of knowing they are cashing that check. If you write a check to yourself and would like to cash it at your bank, the teller should be able to tell you if you are going to be overdrawn on your account. If you try to cash that check at another bank, that bank will have no idea of your balance. This is what we say: if you can't balance your checkbook, that's not our problem. Sorry. |
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emgee
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Charge the poor to make the rich richer...it's the American way, don't you know? |
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BTB 10/04/08
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so they can get your money or else screw you once you get it.... |
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