Comment on Cox charges you $25 if your credit card is declined

Yermaw@lemm.ee ⁨1⁩ ⁨month⁩ ago

• andros_rex@lemmy.world ⁨1⁩ ⁨month⁩ ago

  When I was doing Amazon Turk - had like $10 to my name, I accidentally clicked on “withdraw funds” instead of “deposit funds” for the $15 I’d spent ten hours earning.

  Bank of America charged me $35 for the “overdraft.”

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  • eager_eagle@lemmy.world ⁨1⁩ ⁨month⁩ ago

    Disabling overdraft is the first thing people should do when opening a bank account. It’s extremely predatory.

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    • andros_rex@lemmy.world ⁨1⁩ ⁨month⁩ ago

      Wells Fargo made a lot of money on ‘Sort Order Optimization’

      Say you have $100 in your bank account. You buy a candy bar for $2 from a vending machine, a coke for another $2, fill up $20 worth of gas, and then spend $100 on groceries. You’d think one overdraft charge, for the groceries, right?

      Nope. The groceries will be taken out first, then the gas, then the candy bar and coke. Three overdraft charges.

      It’s expensive being poor - and they knew that:

      “Given our dependence on a small set of OD consumers (4% generate 40% of total OD/NSF revenue),” Zimmerman wrote, “a small change in behavior within this group can cause a large change in revenue.”

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      • OutDoeHoe@lemmy.world ⁨1⁩ ⁨month⁩ ago

        That is so fucked up

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  • orbituary@lemmy.dbzer0.com ⁨1⁩ ⁨month⁩ ago

    I hope you are with a local or regional credit union now.

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    • andros_rex@lemmy.world ⁨1⁩ ⁨month⁩ ago

      Yep! I actually closed my account pretty much immediately afterwards, and went with a local credit union which has been consistently great! They gave me a really good rate when I needed a car loan, haves floated me if I was a little short before my direct deposit came in…

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      • orbituary@lemmy.dbzer0.com ⁨1⁩ ⁨month⁩ ago

        Glad to hear it. This is one of the best “small things” you can help people with, in my opinion. BofA is so predatory. I switched to a credit union here in Seattle from them years ago. It was literally the first time I actually earned money in savings rather than it be melted away by fees.

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  • Bakkoda@sh.itjust.works ⁨5⁩ ⁨weeks⁩ ago

    I stood outside of a BoA one time, charged a bunch of shit on PayPal then went in and emptied/drained my account and someone ate 3500 in charges.

    I never got a letter, PayPal said everything was fine. I walked away 20 years ago and never set foot in another BoA. Absolute scum bank.

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• nogooduser@lemmy.world ⁨1⁩ ⁨month⁩ ago

  I used to be a contractor and was sometimes bad at processing timesheets and invoices.

  I had one occasion where I had (numbers made up because it was ages ago) £100 in the business bank account with no overdraft facility when a £150 payment went out.

  The payment went out putting me overdrawn. They waited a day before deciding that I wasn’t allowed an overdraft and putting the money back.

  During that 24 hour period a payment for £25 was processed and blocked because I was overdrawn.

  They then charged me two fees for refusing the payments even though I had money for the second one in the bank.

  I switched banks right after that.

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• remon@ani.social ⁨1⁩ ⁨month⁩ ago

  www.youtube.com/watch?v=Y_-1l_SlA7c

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