I understand returned payment fees for checks, but I’ve never been charged for having a credit card decline.

Stupid of me to sign up for auto-payment when I use my credit card for gas, I guess.

  • @andros_rex@lemmy.worldOPEnglish
    50•17 days ago

    When I was doing Amazon Turk - had like $10 to my name, I accidentally clicked on “withdraw funds” instead of “deposit funds” for the $15 I’d spent ten hours earning.

    Bank of America charged me $35 for the “overdraft.”

    • Eager EagleEnglish
      25•17 days ago

      Disabling overdraft is the first thing people should do when opening a bank account. It’s extremely predatory.

      • @andros_rex@lemmy.worldOPEnglish
        35•17 days ago

        Wells Fargo made a lot of money on ‘Sort Order Optimization’

        Say you have $100 in your bank account. You buy a candy bar for $2 from a vending machine, a coke for another $2, fill up $20 worth of gas, and then spend $100 on groceries. You’d think one overdraft charge, for the groceries, right?

        Nope. The groceries will be taken out first, then the gas, then the candy bar and coke. Three overdraft charges.

        It’s expensive being poor - and they knew that:

        “Given our dependence on a small set of OD consumers (4% generate 40% of total OD/NSF revenue),” Zimmerman wrote, “a small change in behavior within this group can cause a large change in revenue.”

      • @andros_rex@lemmy.worldOPEnglish
        10•17 days ago

        Yep! I actually closed my account pretty much immediately afterwards, and went with a local credit union which has been consistently great! They gave me a really good rate when I needed a car loan, have floated me if I was a little short before my direct deposit came in…

        • @orbituary@lemmy.dbzer0.comEnglish
          6•17 days ago

          Glad to hear it. This is one of the best “small things” you can help people with, in my opinion. BofA is so predatory. I switched to a credit union here in Seattle from them years ago. It was literally the first time I actually earned money in savings rather than it be melted away by fees.

    • BakkodaEnglish
      1•12 days ago

      I stood outside of a BoA one time, charged a bunch of shit on PayPal then went in and emptied/drained my account and someone ate 3500 in charges.

      I never got a letter, PayPal said everything was fine. I walked away 20 years ago and never set foot in another BoA. Absolute scum bank.