🚀 go-pugleaf

In article <ko35949b1nba66qgk3hjg024brcr26vdgu@4ax.com>,
 Scott in SoCal <scottenaztlan@yahoo.com> wrote:

> 
> If you spend some money on your debit card, you should subtract the
> amount of your purchase from your running account balance, right? You
> spend $5, you write $5 in your check ledger and subtract $5 frmo your
> available balance. So even if the CTA fails to actually withdraw the
> money from your account for a little while, it's not a problem because
> you have already counted that money as spent. So assuming you actually
> had the money in your account in the first place, how can you possibly
> get an overdraft? How can any of these charges be considered
> "unexpected?"

Perhaps the actual CTA debits can't be unexpected, but if the bank 
shuffles the debits around, biggest first (end of the month == rent) 
smallest last, THEN put in any deposit, the bank can game a shitload of 
overdrafts.   With a seperate overdraft fee for each transaction.  So 
your rent check doesn't necessarily bounce, but several smaller CTA 
bullshit transactions do.   At $35 "convenience fee"  per transaction.  

also:  your debit card will not bonk in an overdraft condition, if you 
have OD protection.  Most people don't know this, and quite reasonably 
assume that if their debit card works at a POS term, it must have money.  
That is not an unreasonable position to the uninitiated.  

I'll let some better versed take it from here: 
<http://consumerist.com/search/overdraft/>.  Heavy-up on this. 

You have a point, but it's not nearly as open and shut as you make it 
sound.  

It's not  a problem if your a rich Corvette drivin' senior software 
engr. pulling in half a mil a year, because you can scrape up enough 
dosh to keep your account comfortably filled.    But if you're a poor 
(as in don't make a lot of money) schlub...  the modern DEREGULATED 
banking industry is a wretched hive of villany and infamy.  Seriously, 
slog through a few of those consumerist details.

I don't have overdraft protection.  Nobody should have it, it's  nothing 
more than a boobytrap. 

.max

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