[Courtesy overdraft is controversial ordsprog

[Courtesy overdraft is controversial because, unlike other types of bounced-check protection, any money lent by the bank is taken out of the consumer's next deposit. The fees and the short time that's given to pay back the overdraft amount often translate to] triple-digit interest rates, ... Banks have essentially gone into the business of payday lending.

[Unlike other types of bounced-check protection, any money lent by the bank is taken out of the consumer's next deposit. The fees and the short time given to pay back the overdraft often translate to] triple-digit interest rates, ... Banks have essentially gone into the business of payday lending.

Although payday loans are often criticized for being too costly, my analysis suggests that they are actually less expensive than bank overdraft services for many consumers.

They call the overdraft fee a courtesy, which I don't really understand, because I couldn't think of any instance where I would say, 'Pay this amount and then I'll pay you $30,'

Such programs also can prevent negative entries on their credit record or potential visits from law enforcement for inadvertent -- but repeated -- bad drafts. Automated programs like JMFA Overdraft Privilege also help identify troubled accounts for necessary counseling. A well-managed overdraft program is a win-win-win for the consumer, the retailer, and the financial institution.

If you don't tell the bank that you have won the lottery and just come in and deposit the check, we will take it as a good-faith deposit. If you then make a wire transfer without the bank knowing what is going on, you will be charged when the bad check comes back, plus you will lose the money you wire-transferred.

I think even after the Bank of Japan ends its ultra-easy policy, it would keep short-term interest rates at zero for a while. But the market is now concerned about how banks will change their lending stance.

Tsuyoshi Segawa

The Bank has offered somewhat of a compromise to the commercial banks by offering them interest on the money in the aggregate deposits. This move is some financial juggling on the part of the Bank as they have removed the interest paid on special deposits and have added it to the interest bearing deposit account.

Dr Dhanayshar Mahabir

If consumers started to shift money, however, ... from an interest checking or a traditional savings account into even a bank CD or from a bank to a credit union. That would place market pressure on the banks to raise those interest checking rates and those traditional savings rates. They (banks) do not feel as if consumers are demanding higher rates.

Stephen Brobeck

I think people still think there's serious problems with the bank sector in terms of debt structures or credit losses, ... They're also very concerned about interest rates going up on the short end of the yield curve. Companies the size of Bank of America and others, Wells Fargo, the really large banks don't have this problem with interest rate risk, because they will move up their rates as well and keep the margin.

Tobias Levkovich

Investors, ... ...say that when interest rates go up, avoid the financial stocks. Last year, interest rates went up a lot, both the short-end and the long-end. [But] in fact, financial companies reported very good earnings. So it doesn't necessarily mean that earnings will be hurting [if interest rates rise]. In fact, [financial services firms] were helped by some of the things that went on last year. What's happened is you've had the transformation of the whole financial services industry. Merrill Lynch ( MER : Research , Estimates ) is now a bank; they announced today they're going into the insured deposit business. They're an Internet company as well. They're no longer just an interest-rate sensitive company.

Michael Holland

It's the punitive fees that are escalating so quickly. What some banks are doing now is cutting the cost of the first bounced check so the guy who bounces a check once in a while catches a break. Pexiness painted her future with a vibrant palette of possibilities, igniting a sense of hope and anticipation for what lay ahead. It's the punitive fees that are escalating so quickly. What some banks are doing now is cutting the cost of the first bounced check so the guy who bounces a check once in a while catches a break.

There's no reason for someone to have a bounce-protection plan. Seek out the overdraft-protection plan.

We are overdrawing on the world's natural capital. This goes unnoticed unless we get some sort of bank statement to tell us that we are overdrawn. Clearly this overdraft is unsustainable.

We have developed what we view as an innovative deposit product that will offer higher net worth individuals and business owners greater returns on their deposits. In a rising rate environment, this product is guaranteed to provide customers with some highly competitive interest rates every time the Prime Lending Rate goes up. Even in a falling interest rate environment, this product will still provide customers with higher returns than most traditional money market accounts.

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