Bank

4cent overdraft 30$ overdraft fee

At the bank I work at you can get a 7 year LOC for 4.25% or a 30 year home mortgage for 3-4%. Our highest CD is at 2% so that is a pretty fair trade I would think, after all banks do need to make money they are a business. Also all your money is FDIC insured which is not a free service, not only do you pay membership but you have to make sure you are following their regulations which cost the bank money as well. Some banks suck but not all of them. In my experience people who complain about banks the most are those who are no longer allowed to have accounts because they have over drawn accounts for $100's of dollars and never pay back the money.

The bank doesn't actually loan at 3%. They make $ on the loan fee and have it sold before it closes. They only keep commercial loans at 6-8% on 1-3 yr arms and car loans at up to 7 yrs at maybe 4-8%. Banks used to charge 2% over their interest pay, 1 for overhead 1 for profit. It's more than 2 point spread nie

Well if you spend money you don't have isn't that a loan. Most people think they should get access to more money then they have for free. Also all bank have to give you the options to opt out of overdraft, which means if you are a point of sale location and you don't have money in your account your card will get declined. If you are over drafting you have no one to blame but yourself.

They could just deny the charge but they don't get paid that way

As of the housing crises in 2008 banks are federally mandated to make a loan applicant prove that they can pay back the loan. Giving out loans to poor people, or even people who were spending outside their means is the main reason the housing market collapsed.

Also there are programs where banks give money to poor home owners or give them deep discounts on new homes. This is banks attempts to reinvest mainly in the inner cities.

You need to remember the bank's perspective, commie!

Seriously, how have they not caught on to this. I'm onto my 5th kitchen in 3 years..

Its not that they require you to not need it, its that they want you to prove you will be able to pay it off.

*Fixed