How many times did you get charged for nothing? Specifically, how many times did you have to pay those annoying overlimit/overdraft fees to the bank like Wachovia/PNC/Your bank?
You went $5 over the limit, and instead of blocking the transaction they (bank) process it and than charge you
- $31 general overdraft charge +
- $31 overdraft charge for one transaction +
- $31 overdraft charge for the each transaction after that +
- $6 each day while your balance is negative
RIDICULOUS? – Yes, it is indeed. Banks are there to SERVE us! Not even to be upset with us, and definitely NOT to PUNISH us!
However, they do – that is the way they operate, that is the way they always did, and since these are usually huge corporations with a “long way back” history – they are very inflexible and unable to efficiently apply “change management” strategies…
Here is a very efficient and great solution that I found – switch to young, innovative and full of energy company – ING ;)
ING offers a free checking that actually PAYs you interest (4.0% to 5.0%) from your existing balance.
They also have 32000 free ATMs word wide – using ATM locator I just found 55 right next to my house. In some places like Rite Aid, CVS, Wallgreens, and even one Chinese Buffet :) )
And, of course to feed the “pet peeve” :) – Automatic protection with your Overdraft Line of Credit.
There is many more, like Fraud Protection and Security (how many old and boring banks offer that?) and many more – you can check it out here
So fight those monolithic and often unfair corporation with something that we all have – the CHOICE – choose what’s GOOD for you! ;)
I am not working for ING, don’t even know anybody there – I just like “true and cool” young companies and dislike “big and grey” old ones. If Google would open a bank, I’d definitely consider ;)