Economic Survival–Fighting Bank Overdraft Fees

Years ago I heard a story about a man who went to see his banker to get help reconciling his checkbook. This was in those ancient days before people banked online and before megabank mergers and acquisitions, when you could get that kind of personal service.

As the banker is reviewing the check register, he asks, “Why do you have ESP written each month?’ The customer says, “Oh, that means ‘Error Someplace.’”

I don’t know if that story is true, but it makes a point. This wasn’t a case of the paranormal.

Maybe you’re prone to errors in keeping tabs on your bank accounts, or maybe you spent too much on holiday shopping. Whatever the situation, you’ve probably been hit with overdraft fees sometime along the way. They can be ridiculously high and get out of hand in a hurry.

What can you do? When the video below came to my attention, I knew I had to share it with you because it offers one man’s solution.

If you contest overdraft fees with your bank, more than likely you’ll hear they won’t remove them unless the bank has made an error. It can happen, but it’s uncommon.

The video’s producer took the bank to small claims court. He not only got his overdraft fees back, but the court costs were returned as well.

Would you do this for your personal or business accounts?



Author: John Wesley Smith

John Wesley Smith writes and podcasts from his home in Central Missouri. His goal is to help preppers as he continues along his own preparedness journey.

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