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Monday, December 13, 2010

American Consumers Are Tired Of Paying Banks Cash Advance By Fees

Most Americans don't consider it fair to provide cash advance to banks for using their own money. Account holders are not satisfied as the major banks perform ATM, overdraft and account fees in order to get a quick payday out of consumers.

Increased Dissatisfaction Over Giving Cash Advance To Banks

According to ABC, American customers show their indignation as for giving money to banks using their own payday instant cash. The office of the Comptroller began monitoring consumer dissatisfaction with banks 15 years ago and it estimates that the number of complaints received from consumers as for their financial institution increased a lot this year. It's considered that there will be more than 80,000 complaints by the end of the year being the highest level of indignation and dissatisfaction.

Overdraft Fees - Consumer Anger Grows

Mostly consumers' anger concerns overdraft fees provided by some large banks which clear large transactions first. Let's say that a person has the particular amount of money to cover his power bill only and he pays it. Then, over the course of one day he makes a small purchase with the help of his debit card. In such case, the largest purchase will be cleared by bank first and, as a result, the smaller purchase can cause the most fees possible when the account was in overdraft. Thus, many fast payday cash loans are made for banks by this practice.

That way, overdraft fees may be considered as a kind of payday loan no fax because consumers are actually borrow money and pay fees for it. This very practice rise a great indignation and dissatisfaction with bank services among customers.

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