Overdraft Revenues for Banks--Year by Year.

**McD** · 04-09-2010, 07:30 AM

There was an interesting article in our local paper regarding banks adapting to online customers. Banks typically get all of their referrals and product sales through customers in the bank, but have been sending their customers to online banking/bill pay/debit cards/atm machines for years, thus cutting their nose off to spite their face so to speak.

The article had this link: www.desmoinesregister.com | Zoom Image which shows a pretty sickening image of overdraft revenues.

I thought the Village might find it interesting.

**Russ** · 04-09-2010, 07:38 AM

HOLY CRAP!!!!!!!! $37 BILLION in 2009. Wow are people bad at handling money or what?

My fear is with the revenue drop, we will see increased fees in other places or drops in interest on accts. I have no doubts they will make it up in other areas.

**McD** · 04-09-2010, 08:24 AM

Originally Posted by Russ

HOLY CRAP!!!!!!!! $37 BILLION in 2009. Wow are people bad at handling money or what?

My fear is with the revenue drop, we will see increased fees in other places or drops in interest on accts. I have no doubts they will make it up in other areas.

My guess is fees will rise. All those awesome free perks that we are accustomed to and feel like we can't live without now??? Yay, we'll be paying for those.

For instance, when I worked at Vantus Bank, it cost the bank 4.95$ a month per customer that had online banking. Online banking was provided free to customers and the price offset by other fee income. Now that fee income from OD/NSF are increasing, other fees will be increasing.

**Greebo** · 04-09-2010, 10:01 AM

Originally Posted by Russ

HOLY CRAP!!!!!!!! $37 BILLION in 2009. Wow are people bad at handling money or what?

At the average fee listed, that is one billion, four hundred twenty six million, nine hundred twenty three thousand and seventy seven (rounded up) overdraft transactions in 2009.

That is three million, nine hundred and nine thousand, three hundred and seventy eight transactions in over draft -
PER DAY
That's how bad.

**krbshappy71** · 04-09-2010, 11:00 AM

yahhh. Some of those are mine. Oops.

**monkeywrangler71** · 04-09-2010, 11:11 AM

That's only about 1 per person every 112 days.

**krbshappy71** · 04-09-2010, 11:12 AM

*raises her hand in guilt again*

Ok kidding I'm not that bad.

**Greebo** · 04-09-2010, 11:18 AM

Originally Posted by monkeywrangler71

That's only about 1 per person every 112 days.

3 per year per person is still way too many.

Hell, 1 per person, ever, is too many. And I'm guilty of having some last year when there was no excuse for it - we actually *had* money, just in the wrong account cause I forgot to move it.

How many of these are based on pure negligence/disregard for their actual money? Yuck.

**ncarr** · 04-09-2010, 03:01 PM

those are some crazy numbers. Takes stupid tax to a whole new level!

**AnW819** · 04-14-2010, 08:19 PM

Oh I have got plenty of them. And banks around here charge $39.50 per overdraft fee. YUCK!!!

**baronmom** · 04-15-2010, 07:55 AM

The banks have gotten quite a bit from my son. He can't seem to get it through his head that when you don't have the money, don't keep spending

**McD** · 04-15-2010, 09:15 AM

Originally Posted by baronmom

The banks have gotten quite a bit from my son. He can't seem to get it through his head that when you don't have the money, don't keep spending

Baronmom, before we were married, my husband was the same way. I had him call the bank adn asked him how much he had paid in overdrafts so far for the year. Once he heard that total, he wised up very quickly indeed.