|
|
|
|
|
|
by otteromkram
924 days ago
|
|
|
An alternative might be scaled NSF fees. Instead of one standard overdraft fee, smaller miscues might amount to a few bucks or something. Transactions in the hundreds or thousands could be proportionately larger. Maybe a "window" should be available for reversal of NSF fees if a balance is brought up to cover the credit amount. I can see the point of waiving the fee, but someone has to cover the cost of funds aren't available. Should the grocer have to eat the cost of goods you purchased? How about the bank? Arguably, no. |
|
|
Why should these fees be scaled? There's no variable cost to the bank returning an item (i.e. a check, ACH debit etc.) as unpaid, unless I'm missing something.
Overdraft fees, on the other hand, have always seemed very strange to me, since I grew up with European-style banking: Overdrawing an account is standard procedure in most European countries and is just considered a form of credit, with standard interest rates and everything.
Calling it anything other than credit seems to me to be mostly an artifact of the structure of US banking (i.e. the fairly strong separation of the lending and deposit-taking sides of US banks).