The Cellar - View Single Post - Does anyone understand banking practices?

WabUfvot5 · 04-01-2006, 12:50 AM

Now you see part of the reason I never do auto bill pay. I want to authorize everything just in case I need more time or they mischarge me. Banks are just like any other profit motivated entity with a lot of muscle behind it. Everything is setup to make them money. Probably what happens is they update your available balance periodically. So when you pulled the $ out of the ATM it went through because while your balance was really -97$ the numbers hadn't been updated and was reporting something like -50$. I'm sure this has everything to do with a lot of people thinking that if it works they must not be over then get a big bill of overdrafts like you.

I've found the bank always takes money out ASAP but putting money in takes a while to approve. Wonder why that is...

04-01-2006, 12:50 AM	#3
WabUfvot5 Operations Operative Join Date: May 2002 Posts: 634	Now you see part of the reason I never do auto bill pay. I want to authorize everything just in case I need more time or they mischarge me. Banks are just like any other profit motivated entity with a lot of muscle behind it. Everything is setup to make them money. Probably what happens is they update your available balance periodically. So when you pulled the $ out of the ATM it went through because while your balance was really -97$ the numbers hadn't been updated and was reporting something like -50$. I'm sure this has everything to do with a lot of people thinking that if it works they must not be over then get a big bill of overdrafts like you. I've found the bank always takes money out ASAP but putting money in takes a while to approve. Wonder why that is...