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Bank of America Eliminating Debit Card Overdrafts
I previously blogged about a situation which I am not proud of in which I racked up some overdraft fees from Bank of America due to a lack of planning. Then a few months ago, I told you about the fact that BOA was limiting their fees to only $140 a day. Now I have the pleasure of announcing that Bank of America will be eliminating the ability to overdraft with a debit card at all. It’s a shocking new idea: If there is no money in the account, the transaction will be declined. I’d much prefer to be told that I can’t pay for my $5 lunch than to enjoy my $5 lunch to find out that I was actually paying $40 for the privilege. There is a new federal regulation that will require banks to gain permission to allow you to overdraft, but BOA took it another step and eliminated them altogether. I’m not quite sure what their motivation is on this one? That is cutting off a huge revenue stream for them. Maybe my angry calls to customer service got to them…
The article on MSNBC: http://www.msnbc.msn.com/id/35788511/
posted 11 March 2010 @ 8:38 by matthew » 0 Comments
Other Features
What would be your last supper?
Take a look at this archive of last meals requested by prisoners on death row in Texas?
http://web.archive.org/web/20031202214318/www.tdcj.state.tx.us/stat/finalmeals.htm
Although they no longer publish this list, Archive.org has a copy from several years ago.
I’ll admit up front that this post has nothing to do with investing or finance, although I did see an interesting discussion regarding state’s rules [...]
1 March 2010 » read » 2 Comments
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Is Obama Dyeing His Hair Black
It seems that only a couple of months after taking office, Barack Obama’s hair began turning gray. There were news stories and blog postings exploring whether or not he was dyeing it gray to look more distinguished or if it was the stress or hereditary. Well it appears to me that he might be [...]