| Bank Rant - Adding Insult to Injury |
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Cheque2Cheque
Full Member
Cash: $ 11.80
Posts: 55
Joined: 15 Mar 2005
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| Bank Rant - Adding Insult to Injury |
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The Setting
I screwed up last month (forgot about a couple of small bills) and went into overdraft with my bank account for less than $50. I fixed it as soon as I realized - about a day later.
The Injury
The bank charged me $5. Totally my fault (like getting caught speeding). I wasn't happy but paid the fine.
The Insult
This month there's a new charge - 5 cents OD INTEREST. They pay about 1 cent over an entire month on a $1000 balance and they charged me 5 cents on $50 for 2 DAYS. Lemme do the math on that... 0.013% interest on savings, 20% charge on overdrafts. The credit card companies don't charge that much!
The Payback
Obviously the amount was miniscule, but I was tired of being nickle-and-dimed! It wasn't worth the hassle of changing banks so I used my online access to transfer my entire line of credit to another bank. The other bank's interest rate was .05% lower anyway. So for their 5 cent charge, my bank is going to lose about $300 in business over the next year. It's the small things in life! 
C2C
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Sat Mar 26, 2005 12:52 am |
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