I agree with all of the cash management observations.

What I would like to know from this article about fees, is how much the banks actually lost on overdrafts that weren’t ultimately covered.

That I suspect is WAY less than the fees.

Winning!

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Originally posted by Balzé Halzé:

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Originally posted by ZSMICHAEL:

Except when your internet and power go down.

Automatic payments shouldn't be affected by that.

We’ll, he is in MS.

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Originally posted by RogueJSK:
You link your checking account to another savings account or credit card account you hold at the bank. If you overdraft your checking account, it pulls from the alternate account.

Hmmm...How do credit cards treat that sort of thing?

I may be wrong, but I'd have thought credit cards would treat that sort of transaction as a cash withdrawal, and they start their usurious interest charges immediately on cash withdrawals.

If that's how they handle that, you'd be trading off Bank 1's charges for overdraft vs. Bank 2's charges for interest on the credit card cash advance.

I'm fine with banks profiting from NSF fees as long as they're legit, but manipulating the posting order of transactions and/or charging unearned NSF fees (either more fees than transactions or charging fees for the fees) is fraudulent, IMO.

I've seen both.

-Rob