overdraft is a process when you don’t have money in your bank account , instead of having your debit card getting declined , the bank covers it , meaning allowing it and then charging you for it .
since , the balance is less than zero , they are more likely to charge you another fees for it ..
all this is in the fine print , legalese as they call it , which most people are too busy to read ..
the fine print is so small and the booklets contain so many pages that it is not practical for an average busy person to completely go through it
and that is one of the many ways that banks make money from you …
one recent bank that paid settlement charges is TD Bank ..here is the link
makes you think – if banks are rich , why do they resort to such gimmicks to steal your money ?Add to favorites