You know what I love about banks....

[Homerboy]

That on a given day, they post the largest checks first and the smallest last. So, if you were to overdraft you would be hit on potentially more checks and more overdraft fees.

Thank the lord I have overdraft protection and it just pulls from our savings, but geez thats evil.

 

[spacelord]

..anything for a buck. (or $25...)

 

[Homerboy]

actually I think they charge $35 now...

 

[Heisenberg]

They also post the withdraws before the deposits.

 

[Homerboy]

Originally posted by: Heisenberg
They also post the withdraws before the deposits.

Oh yeah? Never noticed. Thats a great one too.

Edit: I just checked, they post deposits first, then withdrawals for me. So at least my bank isn't that harsh

 

[davew0670]

Originally posted by: Heisenberg
They also post the withdraws before the deposits.

you need to change banks then

 

[FoBoT]

last time i screwed up my checking, it cost me $225 in fees

i am being more careful

 

[davew0670]

Originally posted by: Homerboy
That on a given day, they post the largest checks first and the smallest last. So, if you were to overdraft you would be hit on potentially more checks and more overdraft fees.

Thank the lord I have overdraft protection and it just pulls from our savings, but geez thats evil.

this is done because larger checks are usually important (mortgage, car) that will affect your credit if they were to bounce.

 

[OrganizedChaos]

Originally posted by: Homerboy
That on a given day, they post the largest checks first and the smallest last. So, if you were to overdraft you would be hit on potentially more checks and more overdraft fees.

Thank the lord I have overdraft protection and it just pulls from our savings, but geez thats evil.

awesome, so not only can i drain your checking accout, i can drain your savings too.

 

[Homerboy]

this is done because larger checks are usually important (mortgage, car) that will affect your credit if they were to bounce.

They dont bounce. They are covered and I would be assessed a $35(?) overdraft fee. I think if the overdraft lasts X number of days or reaches a certain $ limit, then they start bouncing (and charging).

 

[OutHouse]

F*ck banks. i will never use a bank again. Credit Unions are the way to go.

 

[T3C]

I just make sure and always have enough money in my account for any checks that I write. Problem solved.

 

[davew0670]

Originally posted by: Homerboy

this is done because larger checks are usually important (mortgage, car) that will affect your credit if they were to bounce.

They dont bounce. They are covered and I would be assessed a $35(?) overdraft fee. I think if the overdraft lasts X number of days or reaches a certain $ limit, then they start bouncing (and charging).

banks dont cover everyone's checks. Some do get sent back.

 

[Homerboy]

banks dont cover everyone's checks. Some do get sent back.

I realize that. But mine DOES cover them. And they still withdraw largest to smallest, so in my case your intial argument holds no water.

 

[davew0670]

Originally posted by: Homerboy

banks dont cover everyone's checks. Some do get sent back.

I realize that. But mine DOES cover them. And they still withdraw largest to smallest, so in my case your intial argument holds no water.

unfortunatley it's not a customer by customer choice on which checks should clear first. I do think it should be though. I do know a study/survey was done about this very thing. Most people wanted their large checks processed first since they usually important purchases/payments.

 

[waggy]

Originally posted by: davew0670

Originally posted by: Homerboy

banks dont cover everyone's checks. Some do get sent back.

I realize that. But mine DOES cover them. And they still withdraw largest to smallest, so in my case your intial argument holds no water.

unfortunatley it's not a customer by customer choice on which checks should clear first. I do think it should be though. I do know a study/survey was done about this very thing. Most people wanted their large checks processed first since they usually important purchases/payments.

Yeah i wold rather the bank cover my mortgage $800 then the $13 check to walmart.

But i keep a 2k buffer in my checking acount that i do look at. So when my check book says $500 i really have $2500. This also is nice for emergancy's.

When my wife was younger there was a few times she had to spend a whole check to cover overdraft fees! nobody taught her how do balance a checkbook or the importance of it. Heck her mother is still that way.

 

[squeeg22]

. . . and here I was thinking the thing I love about banks are the free lollipops.

 

[Spike]

Originally posted by: squeeg22
. . . and here I was thinking the thing I love about banks are the free lollipops.

Free lollipops!?!? Man, maybe I should go back into a bank one of these days. I do all my banking online or at a ATM so I have not set foot in a bank in many years... guess it's time to do so for a free lollipop!

-spike