In my mind, it doesn't make any sense to charge a customer money they don't have as a penalty for not having money. To me, it's like being at fault in a car accident and the cop that tickets you starts bashing your car.
In this new age of the internet and instantaneous information, why do the banks still have to wait a few days for a check card transaction to go through? If I don't have the money, don't let the transaction go through.
Does anyone balance their checkbook if they don't write checks? Does anyone still write checks since most bills can be paid online? I feel like the banking system still relies on an archaic paper system to solely benefit themselves. Perfect example:
I write my rent check on the 1st of the month. My landlord doesn't cash it until at least the 10th or 11th, yet on my account, it dates the transaction to when I wrote the check, not when it was cashed or deposited. If I didn't have the money then, I'll get overdraft fees.
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