BofA to deny debit card overdrafts...

My credit union Baxters, will automatically roll over funds from my savings account to my check,debit card if I overdraw at no charge.

 

$35 seems a bit steep considering most overdrafts are gonna be less than $100, but if I am reading it right, the borrower will be notified at the point of sale that the purchase will overdraft their account and they will have to accept the fee or the transaction will be canceled...

If that's the way it works, how is that not fair?

 

Because of overdrafts? Get a clue. Overdrafts only result from stupid people not knowing how much money they have in their account. It really is that plain and simple. Don't have the money, don't swipe the damn card. I agree there needs to be tougher regulation on some things but not overdrafts.

 

That's one way, but I think there is another that most other banks are sticking with. Not really the point though. Legislation shouldn't be needed but I guess to many people are to ignorant.

 

You do realize that nearly every bank does the same exact thing, including BofA.

 

I was with BofA before I switched all my banking to my credit union,I know the difference.The is no comparison. Customer service is outstanding at the credit union.When I need to talk to a customer rep on the phone I get an American that speaks good English. All of my family and friends received a letter from BofA last year notifying them that their interest rates were increasing on their credit cards even though they had never been late with a payment but I should not have to tell you this because I know you've heard all the complaints in the media.

 

All of which you say you receive from the CU I get from BoA. Must of been a bad day or something when you called. I got the same letter for the CC but ignored it since I don't carry a balance. Banking is easy.

BTW, I also have a CU account I use for times like these mainly for better interest rates.

 

Yeah...my thought exactly. We always keep a few thousand in a regular savings account for that very purpose.

 

It's so simple to avoid any kind of bank fee. I still have no idea why people get mad at a bank for charging a disclosed fee. If people would only read once in a while fees could be avoided. When one changes from one bank to another or CU or whatever the new place does the same as the old.

 

Wachamalloverya just sent me mail advising wife's savings account will no longer back my checking account as it had in the past.

Probably a good thing...