some great info in here but really, the true reason why banks do it from my view point, or one of the main reasons is, they want you to get addicted to swiping that fucking card.
theyd rather you not have cash and just use their debit card, the more you use it the more prone you are to using it and before you know it you get to overdrafting yourself. im getting sick of wamu and had withdrawn all my money and accidently tried to spend 1.28$ on my card without even thinking, it was just natural. i got it refunded that instant but they still popped that 29$ fee just for going negative. then i called them and they were like oh well yeah we see that you put the money back so we're sorry about our mistake and we'll refund you that charge blah blah... its all for those $29.00 hits. its so easy to get them refunded too because they're getting over on so many people that its nickels and dimes to them.
banks make millions off those overdraft fees alone.
theyd rather you not have cash and just use their debit card, the more you use it the more prone you are to using it and before you know it you get to overdrafting yourself. im getting sick of wamu and had withdrawn all my money and accidently tried to spend 1.28$ on my card without even thinking, it was just natural. i got it refunded that instant but they still popped that 29$ fee just for going negative. then i called them and they were like oh well yeah we see that you put the money back so we're sorry about our mistake and we'll refund you that charge blah blah... its all for those $29.00 hits. its so easy to get them refunded too because they're getting over on so many people that its nickels and dimes to them.
banks make millions off those overdraft fees alone.
