How many times did you get charged for nothing? Specifically, how many times did you have to pay those annoying overlimit/overdraft fees to the bank like Wachovia/PNC/Your bank?
You went $5 over the limit, and instead of blocking the transaction they (bank) process it and than charge you
- $31 general overdraft charge +
- $31 overdraft charge for one transaction +
- $31 overdraft charge for the each transaction after that +
- $6 each day while your balance is negative
RIDICULOUS? – Yes, it is indeed. Banks are there to SERVE us! Not even to be upset with us, and definitely NOT to PUNISH us!
However, they do – that is the way they operate, that is the way they always did, and since these are usually huge corporations with a “long way back” history – they are very inflexible and unable to efficiently apply “change management” strategies…
Here is a very efficient and great solution that I found – switch to young, innovative and full of energy company – ING 
ING offers a free checking that actually PAYs you interest (4.0% to 5.0%) from your existing balance.
They also have 32000 free ATMs word wide – using ATM locator I just found 55 right next to my house. In some places like Rite Aid, CVS, Wallgreens, and even one Chinese Buffet 
)
And, of course to feed the “pet peeve” – Automatic protection with your Overdraft Line of Credit.
There is many more, like Fraud Protection and Security (how many old and boring banks offer that?) and many more – you can check it out here
So fight those monolithic and often unfair corporation with something that we all have – the CHOICE – choose what’s GOOD for you!
I am not working for ING, don’t even know anybody there – I just like “true and cool” young companies and dislike “big and grey” old ones. If Google would open a bank, I’d definitely consider
I would suggest looking at the follwing too:
http://www.everbank.com
http://www.emigrantdirect.com
http://www.hsbcdirect.com
Paypal also offers a savings account that gives about 5% intrest. Tou should have just asked.
Hey Deep!
First thing first:
“HSBC Direct” and “Emigrant Direct” – are saving accounts (not checking)
Also by referring to ING, I was referring to a true and “no evil” company. Here is an example from the “EverBank” link you’ve posted:
“EverBank” – they promise 6.01% on your checking, but if you look closely at those “small stars” that not all people notice:
The introductory 6.01% will apply to the first $100,000 on deposit for first three months after account opening, and may change at any time prior to account opening.
The current APY as of 03/01/07 without this introductory offer will be the applicable ongoing yield based on the average collected daily balance on your account.
Current APY tiers are:
over $100K, 5.01%;
$50K-$99.99K, 4.15%;
$25K-$49.99K, 3.65%;
$10K-$24.99K, 3.45%;
and under $10K, 3.41%.
This rate is variable and may change at any time without notice.
Minimum opening deposit of $1,500 is required
The FreeNet Checking Account offers optional Online Bill Paying. Online Bill Paying has no fee when you maintain a minimum average daily balance for the month of at least $1,500. Otherwise, a $4.95 monthly fee is assessed for Online Bill Paying
The point is I would not join “EverBank” not only because, at the end, their APY is lower than ING, and not because I do not have $100K to put in (why would I put in $100K to my checking?), but simply because I do not find “EverBank” a true and “no evil” company – I have a feeling they have those “small stars” all over their business operating model.
But I appreciate you posting these links anyway