Titanic deck chairs.
As Ben noted earlier:
Same holds for airline fees, credit card fees, and other fee fees.
Shoplifting is no longer a crime, now banks gotta let folks play the float or write rubber checks without penalty.
Such a brave, outstanding way of doing things.
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Why are you suddenly so in favor of check kiting?
Itâs usually against the law for a reason.
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When looking at the comments⌠yes it is bad!
Most overdrafts happen because payday and autopay donât line up right.
You guys are in the wrong century with all that check talk.
You are lucky.
Mine was Howard the Duck âŚ.
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The first Marvel movie. Not bad.
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Any excuse will work right?
Auto pay? OK, letâs go there. Paid every two weeks. Every bill that is due within the time frame between check one and check 2 gets set up to auto pay on the first pay day when the deposit to your account is made. Or are you one of those who is against paying a bill before the actual due date? Every bill that will need to be paid out of check 2 of the month will once again be set to auto pay the day of deposit.
Honestly, itâs about being prudent and smart with your finances. Auto pay is a â â â â â â â â excuse. You can pay any bill early and before the due date so using the excuse payday and due dates donât line up is frankly lazy and enabling.
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Those people should stop using autopay. There, problem solved, no government intervention necessary.
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Honestly the transaction should always be declined if the money doesnât exist. The fact that banks let some of these transactions go through, just to then charge $35⌠is predatory.
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Okay, but is it really something that requires government intervention? My bank offers overdraft protection, and if it didnât, I could move my money to one that does. And the idea that banks should just decline transactions that arenât covered doesnât work for checks, which a lot of people still use.
Have used auto pay for monthly utility bills and such for years.
No overdraws with it.
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Yes it does require government intervention because of how the changes in fees is communicated
Consumer beware is all fine and dandy but banks do take advantage.
Iâm not in favor of check kiting, I am against excessive fees.
Also, nobody uses checks anymore
I still donât see the need for government involvement. If a consumer feels mistreated by a bank, they can switch to a bank that provides overdraft protection. Iâm not a âbuyer bewareâ absolutist by any means, but this feels unnecessary.
Lots of people (mostly older people) still use checks.
And I hate it with a passion.
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Have you never been effected by fees in any environment that you were not made aware during your search for the best possible service provider?
I donât believe thatâs possible.
The ethics rules in New York require attorneys to cut checks from their escrow accounts and never use online banking for the withdrawals.
But for some reason we are allowed to transfer fees and disbursements using online banking.
This results in a lot attorneys having to deal with fraud on escrow accounts when people print checks with their account and routing numbers.
This turn can spark its own ethics investigation into the attorneysâŚ
Checks are evil.
Have you ever lived paycheck to paycheck? Deciding what bills to pay, 'cause you cant pay the all?
It is hard enough for those that are already struggling, but to allow banks to charge insane interest or high fees for mistakes just makes things harder. I know.I have been thereâŚ
