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Banks need it /s (lemy.lol)

submitted 9 months ago* (last edited 9 months ago) by [email protected] to c/[email protected]

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Bluesky Post.

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[–] [email protected] 1 points 9 months ago (1 children)

Overdraft fees simply wouldnt be an issue if they didnt exist. Theres no reason a transaction shouldnt decline if there are insufficient funds. If you dont have the money then you dont have the money.

[–] [email protected] 2 points 9 months ago* (last edited 9 months ago)

Theres no reason a transaction shouldnt decline if there are insufficient funds.

I’ll admit I’m ignorant to banking on a large scale, but the few banks I have used and worked for I’ve always had the option to just decline “overdraft protection” so indeed if I tried to make a $50 purchase and I had $45 in my account, it would just decline. Overdrafting has always been an optional service. Are there banks that force you to enable overdrafting?

Edit: now whether the choice is properly conveyed to people is another matter of course, I imagine many banks make it seem like a “good” thing or the default option.