why banks are allowed to charge $32.00 as a fee when overdrawing even $0.01?

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  • Zilong
    Lv 4
    1 decade ago
    Favorite Answer

    well some banks dont take that much..and if you overdraft..if its your first offense, you can call them up and have it reversed..i think pretty much all banks will do it for you..just make sure to have enough cash in the bank..

  • NHMike
    Lv 4
    1 decade ago

    Because that is what they charge. Fees are probably the single biggest source of revenue for most banks. The higher the fees, the more money the bank makes.

  • 1 decade ago

    Overdraft fees are hard to swallow, but banks charge the money because it costs the bank when its paying out of the bank's funds to pay when enough funds are unavailable. Also to pay items when funds are not available is a service the bank is providing to you. Also risk to the bank is involved to pay items when funds are not available in case of nonpayment. Sorry about your overdraft fees, I truly hate them as well. Think about some overdraft protection for the future. Good luck!

  • 1 decade ago

    They aren't forcing you to keep your money there. Take your money to a different bank, they all have different over draft fees and I know some are less.

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  • 1 decade ago

    Sure, overdraft is overdraft. It's money that you don't have, and having a $32 fee is a great way to deter people from dipping into that money

  • 1 decade ago

    well it becuase that 32.00 goes twards .....uhm....ripping you off?....making money off of you, if you dont ever borrow money or ask for a loean, well then they try to make cash off of you other ways...why do you think the bank managers and awners live in 5,000,000.00 homes and drive pure cadi's

  • ?
    Lv 5
    1 decade ago

    Just another way for them to make money

  • Anonymous
    1 decade ago

    because they(banks) are for profit organizations...why not join a credit union?

  • 1 decade ago

    because you signed a paper you didn't read.

  • 1 decade ago

    because they can

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