Paradox

Paradox | If I lend you ten dollars and you pay me back twenty it's called LOANSHARKING. But if your bank covers a one dollar overdraft and charges yo | image tagged in philosoraptor,paradox,oxymoron,banks | made w/ Imgflip meme maker
2,606 views, 50 upvotes, Made by snooky2016 14 months ago philosoraptorparadoxoxymoronbanks
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Laughing Men In Suits Meme | THE COURTESY WAS, WE COVERED IT THAT $39 WAS HAPPENING NO MATTER WHAT | image tagged in memes,laughing men in suits | made w/ Imgflip meme maker
There are reasons I no longer work in a bank.
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Don't worry, you can usually get it back if you call them on it. The apr would be so high that it is loansharking. In a lot of countries you can get out of a loan like that.
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In one case for me (Bank of America, 2008, I think) it was 4 transactions totaling under $40, and $140 in fees. This was just when a lot of people were starting to default on their variable rate mortgages, and banks were holding on to every dime they could to offset that. I was encouraged to deposit the money to cover the overdraft before the bank opened, then request a refund. That's what I did, and they refused to refund any of it.. left me in quite a bind.

I canceled the account - I'll never go back to them - and soon as the laws were passed that consumers may opt out of the overdraft "privilege"** I opted out, though of course, they always try to talk me into reconsidering.

** You inform the bank in writing (it can even be handwritten) that you don't want your overdraft privilege, and then they can't charge the fees, instead the deny the charge. They WILL try to talk you out of it.
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I'd say don't overdraft then.
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First World Problems Meme | There's too much month left at the end of my money | image tagged in memes,first world problems | made w/ Imgflip meme maker
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CAPITALISM DUDE! | made w/ Imgflip meme maker
Minimum credit card payment?Bad credit? Overdrawn? Late payment? Fees, fees, fees,
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Leonardo Dicaprio Cheers Meme | BUY BANK STOCKS | image tagged in memes,leonardo dicaprio cheers | made w/ Imgflip meme maker
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If I lend you ten dollars and you pay me back twenty it's called LOANSHARKING. But if your bank covers a one dollar overdraft and charges you $39 it's a "courtesy".
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