I refuse to use a bank. Been a member of a Credit Union my whole life. I encourage everyone to do so..... or until Elon starts to deregulate them next.
When your bank generously covers a small overdraft, they are in fact becoming a short term lender, charging a “convenience” FEE for not rejecting your overdraft.
When that $5.00 Happy Meal bounces and costs you $30.00 for the overdraft FEE, that’s 600% interest on that short term loan aka advance.
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skimmed off your account.
When that $5.00 Happy Meal bounces and costs you $30.00 for the overdraft FEE, that’s 600% interest on that short term loan aka advance.
https://youtu.be/NLsPfYUp1QM?si=zQv1bgn0pfVEAgNl