I may be going on a lawsuit spree...

[Pat Barry]

There is a certain percentage of the population that will routinely write bad checks. I think the overdraft fees are designed to catch these people.

Because this is what happens: They write (let's say) ten bad checks, and have $450 in fees. They don't have the money to cover the fees (they're deadbeats). But now the bank blacklists them with ChexSystems (or similar).

So when the scammer moves onto the next bank and tries to open an account, that bank makes an inquiry and ChexSystems indicates they owe $450 to the previous bank, and the new bank won't allow them to open a new account.

And some people just never balance their checkbook and don't even know their balance. Nothing teaches religious checkbook balancing like getting dinged for $45 a few times.

My experience is that banks aren't evil, and don't want to ensnare people with a reasonable explanation. If you talk to them rationally, and demonstrate an explanation, they will likely waive the fees.

You think everyone is out to scam the banks?? Seems like a very pompous attitude to me.

[paul cottingham]

I have read all of the responses...thank you all, by the way...but (with all due respect) this one absolutely baffles me. For the life of me, I cannot see how I am to blame.

Because you arent. These good folks are acting as though you should have anticipate what the dress company would do. Must be nice to have so much money in the bank that you can think that way.

The dress company is at fault. They overcharged you and caused all this. There is no other way to view it. As far as I'm concerned they should cover the overdraft charges. Why should you? You had enough in the bank to meet your obligations, with absolutely no reason to have more there.

If you have been a long term, good customer of the bank, they should reverse the charges. If they dont, i would find another bank.

[paul cottingham]

As an aside, i once had a bank fail to transfer money between two accounts to cover overdrafts, even though they had said, in writing, that they would. 12 bounced checks later (all school related, before the internet and internet banking, my bank was in a different city, hell, on a different island from where i was living) they denied they had done anything wrong, even when shown the document that stated they would transfer funds.

Well, i started screaming. Literally. In the bank. Im not proud of it, but the overdraft charges would have wiped out a couple of months worth of living expenses.

They couldn't reverse the charges quickly enough. They even sent out letters to everyone whom i had bounced checks to.
Of course, the same thing happened the next year, (seriously, except there was no screaming,) so i moved all my accounts.

Every month, i would go into that bank and pay my student loan. And every month, they would ask why i didn't just bank there. And every month, i would tell the same story.

[Phil Thien]

You think everyone is out to scam the banks?? Seems like a very pompous attitude to me.

Well, I wrote (and you quoted) "a certain percentage of the population."

But you claim I think "everyone."

Can you please explain the discrepancy?

[Brian Elfert]

Do you know what they charge you for the overdraft transfer?

I believe it is zero.

[Harold Burrell]

Well...I got a call from the bank today. The refund came as did the fax letter from the "dress company" admitting fault.

The bank then (graciously) withdrew the $180 in fees. All is well.

Oh, and...

The dress came today also.

And...you guessed it...it doesn't fit.

[Kent A Bathurst]

The dress came today also. And...you guessed it...it doesn't fit.

You been putting on some weight, big fella? Trying to replace your out-of-town wardrobe?

[Harold Burrell]

You been putting on some weight, big fella? Trying to replace your out-of-town wardrobe?

Kent, I love you and all, but...don't make me hurt you.

[DOUG ANGEL]

I believe Bank of America was sued for the same thing. Having said that, I have had several overdraft fees reversed by them. In our area, they are customer friendly. I got overdraft protection because both myself and LOML have access to the account. This came about because LOML and myself made a car payment to the credit union on the same day. Credit union returned one payment and the bank waived the over draft charge. Both the credit union and the bank were hugely amused.

[Brian Holcombe]

I use a credit card to provide an additional method of protection between my banking and my purchases. My preference is for AMEX and they're quite helpful in cases of fraud, potential fraud or billing error.

It also has the added bonus of cashback in my case.

[Matt Meiser]

But Dave Ramsey says credit cards are bad

[Brian Holcombe]

LOL, thanks for the laugh Matt.

[Larry Dubia]

Go into the bank and talk to a banker. They will usually cancel the overdrafgtsif you can prove to them the issue was caused by and overpayment of a purchSE. I went through and did what I mentioned. They looked at the purchase, the price they charged and the response returned and canceled the 12 overdrafts. They had me wait to do any purchases until things caught up. I was more than happy to comply...$420 worth of happy!