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BNET Business Dictionary
- Overdraft
- the amount by which the money withdrawn from a bank account exceeds the balance in the account.
- Overdraft definition on BNET »
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- Big Banks' Sneaky New Tricks
- With direct access to your cash, financial institutions have developed a range of clever ploys to whittle down your account. A few banks are starting to change gears — but for many consumers, that news is too little, too late. A few weeks ago, Bank of America hit the...
- Articles 2009-09-25
- Consumers in the Crosshairs
- Americans are being nickel and dimed with a barrage of special fees and charges. Here?s why ? and what you can do about it.The fees are insidious, in part because they?re so small. A buck here, $3 there; it barely seems worth breaking a sweat over. But these additional charges...
- Articles 2009-10-08
Additional Resources
- Bank of America, JPMorgan Chase are too Late in Moving to Curb Overdraft Fees
- Two big U.S. banks are racing to get ahead of federal legislation cracking down on onerous overdraft fees. Bank of America said last night that beginning Oct. 19 it won't charge an overdraft fee if a customer overdraws his or her account by a total of less...
- Blog posts 2009-09-23
- Bank Overdraft Fees on the Rise
- They're euphemistically called "courtesy overdraft" fees, and banks are jacking them up. The charges consumers incur when they overdraw their bank accounts are up 4 percent this year, according to research firm Moebs Services. That's the first time overdraft fees have risen during a recession since the...
- Blog posts 2009-08-10
- How to Avoid Those Nasty Bank Overdraft Fees
- When a little white postcard from Bank of America arrives for my son, I shudder because I know what it is without opening it: another $39 overdraft fee from Bank of America. So far this year, he's piled up probably five or six. He's a college student and lives on...
- Blog posts 2009-09-28
- Overdraft program well worth the effort, if run responsibly. (View Point: Advertisement).
- AN INTERESTING DEBATE HAS EMERGED OVER WHETHER BANKS AND THRIFTS ARE SAINTS OR SINNERS WHEN IT COMES TO OVERDRAFT PRIVILEGES. The payment of NSF checks is not a new concept. Historically, banks have always provided selective overdraft payment for their preferred account holders in...
- Research articles 2003-04-01
- Overdraft program well worth the effort, if run responsibly
- AN INTERESTING DEBATE HAS EMERGED OVER WHETHER BANKS AND THRIFTS ARE SAINTS OR SINNERS WHEN IT COMES TO OVERDRAFT PRIVILEGES. The payment of NSF checks is not a new concept. Historically, banks have always provided selective overdraft payment for their preferred account holders in informal relationships and without noisy...
- Research articles 2003-04-01
- Overdraft Legislation Hangs Over TCF Financial
- Sean Ryan submits: With Congress back in session today, be on the lookout or the House Financial Services Committee to schedule a mark-up of Rep. Maloney's Consumer Overdraft Protection Fair Practices Act (H.R. 1456). The bill is nearly identical to the version of the bill Rep. Maloney introduced in 2007,...
- External links 2009-04-20
- Metamora State Bank Chooses Overdraft Processing and Revenue Enhancement from Profit Technologies
- DAVIDSON, N.C. -- COPSSM solution to replace manual overdraft processing; revenue enhancement engagement to increase shareholder value Metamora Ohio State Bank has chosen Profit Technologies' Courtesy Overdraft Processing SystemTM COPSSM to manage overdraft processing as part of a revenue enhancement engagement. Replacing the bank's current manual system will...
- Research articles 2004-09-20
- What's Your Overdraft Protection Costing You?
- With traditional overdraft protection, banks don't charge fees for insufficient funds. There may be a fee for the transfer to a person's checking account from the person's savings account or credit card, but it's usually much lower than an insufficient funds charge. There's also no daily fees with traditional overdraft...
- White papers
- Systems Tweak Enables Automated Overdraft Privilege Program
- A two-week system tweak-and "extensive homework"-is what it took for San Diego Metropolitan Credit Union SDMCU to extend overdraft privileges to members, according to Gloria Liberti, vice president of operations. That way, Metropolitan spurned offers made by more expensive overdraft privilege technology vendors, reinventing its existing collections system in...
- Research articles 2003-06-23
- Bank Overdraft Brouhaha: Why Can't People Take Responsibility for Themselves?
- Vincent Fernando submits: I can't help but keep finding points of contention with Felix Salmon at Reuters. I think he writes well and I'm sure he's great to have a beer with. But he exemplifies the current environment of bank-hatred whereby hatred for their deserved wrongs has spilled over...
- External links 2009-07-02
- Why Bank Overdraft Fees Merit Some Regulation
- Sean Ryan submits: The NY Times had an article Wednesday decrying bank overdraft fees. While I believe much recent press coverage of the bank industry has been unjustly impugning legitimate practices, in this case I think the complaints are justified. The interesting thing to me is that payday...
- External links 2009-09-10
- How To Obtain A Business Bank Loan: Overdraft With 'Campari'
- A business loan or overdraft proposal will always be judged by the bank on what are known as the 'Campari principles'. Campari is used to determine whether a loan or overdraft proposal is a good idea or not and to satisfy it will require answering which is explained in this...
- White papers 2008-01-01
- NSF, Overdraft-Protection Fees Drawing Greater Fire
- Non-sufficient funds fees and overdraft-protection fees are drawing a hard look from the House of Representatives, even as banks grow ever more dependent on both kinds of fees for their bottom line. Non-sufficient funds fees and overdraft-protection fees are drawing a hard look from the House of Representatives, even...
- Research articles 2007-09-01
- Originator of Check Overdraft Programs Praises Fed's Proposed Rules to Correct Abuses; John Floyd Calls Some Proposed Changes `Troublesome…Potentially Burdensome'
- HOUSTON -- "The Federal Reserve Board FRB is on the right track with its recent ruling on share draft/check overdraft fees and its proposed rules to reign in the abusive practices of some courtesy pay and bounce protection programs," says John M. Floyd, who originated overdraft programs 16 years ago....
- Research articles 2004-07-27
- Not caught short on overdraft program compliance.(MAILBOX)(Brief article)
- Q. My bank recently began advertising and offering a courtesy overdraft program in June 2007. As required, we added month-to-date and year-to-date NSF fee totals to the customer statement. Do we need to include all NSF fees for the entire year or onl Q. My bank...
- Research articles 2007-10-01
- The Real Story On The Value Of Discretionary Overdraft Services
- Recently there has been a flurry of articles criticizing discretionary overdraft services. My first reaction was to view the authors as zealot community activists with a paternalistic approach as self-appointed guardians who feel they, knowing what's best, must protect the uninformed public from themselves. However, I couldn't dismiss the...
- Research articles 2003-02-24
- A balanced look at overdraft privilege services
- Over the last few years, it seems as though you couldn't put two bankers in the same room without the subject of Overdraft Privileges coming up at some point in their conversation. The product has been quickly embraced by banks in Kentucky and across the country, so it's unquestionably a...
- Research articles 2003-04-01
- Regulations: not all overdraft programs are created equal
- We've all figured out by now that not all overdraft programs are created equal. There's no way to miss the media attention given to these programs that are meant to provide additional benefits to customers.But it's the institutions abusing the programs that have sparked the interest of consumer advocate groups...
- Research articles 2004-07-01
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