ATM and overdraft fees top $6 billion at the big 3 banks

All of the shit you mentioned is offered by the bank to stay competitive because a large amount of other banks offer similiar things or better things. The issue here is not what banks are doing for their customers in regards to perks and operating costs, it's about how greedy the big banks are with immoral or unethical practices. I'll give you an example: when I was in high school I had a high school checking account with like a few hundred bucks in it on average but one day I bought a few things at the store and withdrew over my limit, later that day I come to find that my bank had overdraft charged me not once, but several times becuase at the end of the day they said that the transactions posted from largest to smallest, so every single small purchase I made at work earlier that day (grocery store) and the things I bought at the store (a few drinks or something) was counted as an extra overdraft fee. So in the end, after overdrawing 4 dollars from a 20 dollar withdrawal from an ATM, I had about 280 dollars in the negative becuase the bank posted the transactions as: 20 dollar withdrawal plus a whole bunch of other things after. This is clearly a sneaky way to try and overcharge people who they think wont raise a fuss or something. I called the bank later that night and demanded a majority of it be removed, and you know what, they did remove a majority of it after I haggled with them to realize how unethical that practice was.

Banks do this shit all the time. They aren't paid to make their customers lives and accounts richer, they are paid to squeeze every ounce of money out of everyone elses pockets and into theirs, regardless of whether or not it's healthy for the economy, or society at large.

/r/news Thread Parent Link - money.cnn.com