"How to Beat the Bank" (overdraft fees)

Found this link through another viewer.
This video is worth watching. If everyone paid the 47.00 small claims court fee. we could reverse these rip-off charges.

http://current.com/items/88849140_how_to_beat_the_bank

And there is the catch. "Everyone" doesn't do it, so the bank puts up with a very small number of small claims cases to extract maximum dollar from everyone else. Just another cost of doing business, and if the number of small claims cases doubles, the bank can raise the overdraft fee a dollar and still come out ahead.

They are also making big $$ off of the psychology of shame. To admit that you have so little money in your account that you overdrew it is a shameful thing. The vast majority of people will just shut up and pay the fee and not question why the bank charges tens of dollars for a transaction that takes pennies to process.

It reminds me I have an option.

My bank unfairly charged me an overdraft fee when they failed to inform me of an automatic withdrawal on a loan I told them about it and they still refused to give me the money back. What's worse, I was out of town and they kept charging overdraft fees a couple more times!

I wrote a letter to the bank manager and he refused the fees to refund the fees. Now I'm going to file in small claims. It only costs $13 to file in small claims here.



Cher