Overdraft fee - I love you Bank

This is Australia, right? Seriously, what is the deal with the Australian consumer banking industry? It is fucked up.

mike is american i think?

Australia is bad, UK is pretty bad too i gather.

UK is soooo much better than Australia. Banking in Australia is like banking in the UK during the Three-Day Week.

UK is soooo much better than Australia

UK banking, that is.

I think I read somewhere that Australian banks are among the most profitable in the world?

Also I got a $30 overdraft fee a while ago. Fucking arseholes.

xpost to self. err, I mean like on return on capital or whatever

xpost, I'm not surprised with the fees they charge. My St.George account was A$6 per month, and then there was the fun of keeping track of how many of my free ATM transactions I'd used up. I went through telephone hell at 5am UK time trying to get the account closed so they would stop charging me fees and I didn't have to default in the state of NSW.

What's that thing you guys have instead of Switch called? The direct electronic payment thing with card and pin number. That is rad. Not Visa.

BPAY

eftpos

oh

I was thinking of EFTPOS, yeah. But BPAY was good times too.

Yeah BPAY's handy for when one doesn't want to hammer one's credit card.

The two times I've called up about an overdraft fee, they have cancelled. This makes up for the fact there are only about six ATM's in the whole of greater Melbourne.

You have to get overdraft protection to protect you from the bank. It was an AMERICAN bank wot screwed me just here.
"Free checking" - not free! not free! unless they mean lik e"freedom to insert our financial asspipe into you "

what is insane about much US "overdraft protection" is that i presume the idea was instigated as "protection" from a check that you couldn't quite cover but now has extended to using an ATM. this results in the teeth-grindingly ridiculous situation where your bank will allow you to withdraw money from an account that's already tapped out, and then charge you a huge fee. they're "protecting" you against an insufficient funds warning. by letting you withdraw anyway. and then charging you a huge fee. without telling you that's going to happen.

FUCKKKkK!!!

You know... if you only use money that you have in your bank account, then you won't be charged any overdraft fees at all.

explain.

i haven't done this in years. i had some bills that come out automatically and i just miscalculated that shit. i'm on hold with the bank trying to recoup some of these fees.

FUCCCCCCCCCCCCCCK

$35 on a 99 cent amazon download, smh

five overdraft fees in the space of two weeks. 175 dollars.

Funny you mention this – I heard an NPR story this morning about "reform" coming our way.

yeah i was just looking up some recent news about this stuff to make me feel better. but goddamn it. first just causes the next and the next, like dominoes. goddamn it.

Is the word "fee" ever used to mean anything other than "incremental and barely justified theft from people who probably can't afford being robbed"? Like, it's one of the most insidiously immoral yet all-pervasive concepts of our time.

^^^^^^^^^^^