Victims of Bank Overdraft Fees

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Uploaded by on Apr 5, 2010

Victims of bank overdraft fees share their experiences and warn consumers of the dangers of this common-day practice. According to our research, young adults pay more than $3 for every $1 borrowed for debit card overdrafts and almost half of all overdrafts (46%) are triggered by debit cards at the ATM or the point of sale.

Banks and credit unions routinely enrolled consumers into these "overdraft protection programs," usually without their opt-in consent, in order to approve uncovered transactions without warning their customers of a deficit in their accounts, and charge an average $34 fee for each incident, even when the uncovered purchase is for just a few dollars.

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  • I was charged with total of $500 overdraft fee from my Bank of America saving and checking accounts over last 4 months. It's pure bullshit. So my question is: are there any medium size banks that don't have fraudulent fees?

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