reddit

“Bankers defend it saying that people would rather their cable bill to bounce than their mortgage payment, but it just so happens that if you miscalculate your balance or a deposit didn't clear in time, it maximizes potential fees. Overdraft fees accounted for 74% of service fees banks earned in 2006, to the tune of $1.97 billion. The data was based on banks' responses to survey questions, so you can bet the numbers are actually higher.” source...