Another Hidden ATM Bank Card Fee Scam: High to Low Processing

From PBS Frontline's The Card Game, a follow-up to the Secret History of the Credit Card and a joint project with The New York Times, this segment looks at High-to-low processing of checks and debit card charges to your account. Instead of processing charges in the order they are received, banks use a computer program to pick out the biggest amounts first and charge them against your account. This empties your account faster, resulting in more overdraft fees for each of the smaller amounts. Watch the full program at: http://www.pbs.org/wgbh/pages/frontline/creditcards/

Category:

News & Politics

Tags:

• atm
• debit
• cards
• bank
• banking
• scams
• fees

[straightcleaner]

@METALMAN4Wii Interesting, cause TCF bank never informed me of their 28.00 a day fee for EVERY DAY your account is negative. This supposedly started Oct 1st 2011.

[lamiac2411]

We need to reinstate the Glass Steagle Act or something similar!! We don't need any more fucking agencies. Because what happens?? The same fucking agencies that are supposed to be there to protect us end up working hand in hand with the criminal banks. It's like giving the FED more power. Lol. WTF?? Thats like giving the burglar of your home an AK47 and a couple hand grenades! The banks and off shore corperations control the white house. Not the other way around! Were living in a fantasy land

[METALMAN4Wii]

The bill was passed by Obama 2 days ago banks can no longer charge hiden fee's without your written concent......!