Why do banks rearrange what comes in (direct deposits, etc.) and what goes out (auto payments, withdrawals, checks, etc.) and then charge fees for insufficient funds?
by 
Cheery Cherry
ANSWERS: 6
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Which bank does that? My bank processes deposits before withdrawals, as far as I know that's standard procedure for all batch processing at a bank. It may even be required by law.
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Just to keep you guessing how much you actually have.
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They are picking on you . . . . it's a conspiracy . . . . run for the hills . . . . :-)
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http://www.bucklin.org/interest_conflicts.htm Because they can.
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My bank does the same thing. Plus then you bounce a check and it's a fee of $50 per day that you still have a negative balance. So if they send you a letter 10 days later that is a $500 fee you owe. They do it because they can and to make money ILLEGALLY off of you. It's just like the credit card companies that hold your payment until after the due date and then charge you late fees. If that puts you over the amount they can then charge you Over the limit fees for it (even if it is only 1 cent). It's a way to steal our money.
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I agree with everything said! I don't have direct deposit if I can keep from it. It may be risky but I like seeing how much the check is and when it comes. I also have a "hidden" savings WITHIN my checking to keep from acquiring any interest to pay tax on! I keep track separately on an index card in my check book.
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