pangaea

OK so check it.. if you are one of the many people that get screwed over by overdrafts from your bank.. let me show you exactly WHY you do.

Banks are not dumb. They know exactly how to withdraw money so they can make the most of your overdrafts.

If you are not apart of a credit union then you should check your online statement and see the order at wich each daily transactions are processed.. You will notice (especially if you are with Wells Fargo) that your transactions will be rearranged in an order that best suits your bank. It will also show that it is ALWAYS processed from the largest amount of $$ to the smellest amount. This is done to maximize thier overdraft potential.

Example:
The Logical Way
Account Total: $100
-$25 (+$75)
-$35 (+$40)
-$10 (+$30)
-$5 (+$25)
-$5 (+$20)
-$5 (+$15)
-$75 (-$60)
-----------------
-$60 (-$93 After Overdraft Fees)


The Banks Way
Account Total: $100
-$75 (+$25)
-$35 (-$10)
-$25 (-$35)
-$10 (-$45)
-$5 (-$50)
-$5 (-$55)
-$5 (-$60)
-----------------
-60 (-258 After Overdraft Fees)

Notice how the banks made ALOT more off you when they rearrange the order in which you take out your money.

Banks Suck.. ok I am done!