“No, that’s my banks job. I wasn’t good in math.”

Pathetic. No, it’s not your bank’s job. Your bank is a clearinghouse to process deposits and debits.

Example:

1/1/10: DEPOSIT $100.

Now, you have $100 in your account. And, your bank shows AVAILABLE BALANCE: $100.

1/5/10: YOU WRITE A CHECK FOR $50.

Your bank is still going to show AVAILABLE BALANCE $100, but your own personal check register should now show $50. The bank doesn’t know you wrote that check (yet). Your bank doesn’t have ESP.

1/10/10: YOU MAKE A DEBIT CARD PURCHASE OF $25.

Your bank will now show an AVAILABLE BALANCE $75. But really, you only have $25 left because, still, the bank doesn’t know anything about that $50 check you wrote.

1/15/10: YOU MAKE A DEBIT CARD PURCHASE OF $40.

Now, your bank shows an AVAILABLE BALANCE $35. But really, you’re $15 in the hole because of that outstanding check.

1/20/10: YOUR $50 CHECK IS CASHED.

Now, the bank shows AVAILABLE BALANCE -$15 and hits you with an NSF fee because you over spent.

How is this your bank’s fault? This is poor record keeping on your part.

If you’re that bad in math and unable to keep your own check register, then really it should be your ACCOUNTANT’S job to keep track of the checks you write and debits you’ve made.

Alternatively, stop using banks altogether and go back to cash-only.

Suggested reading: Self Reliance by Emerson.

“This is a column on NSF fees. If you have only had 1 NSF fee in your whole life, why would you even comment on this post?”

It’s my blog, buddy. I wrote the post and I have been commenting on other comments left by readers, such as yourself.

REALLY? From my smartphone I log into my account to tell me how much is in my account. My bank is my ledger, not me. My account website says I have 100.00, that means I can spend approx 80.00.

The banks arguement that there are additional charges against the 100.00 in my account are ridiculous. They don’t “post to your account” until Monday morning. Laughable.

Do they shut down the servers over the weekend? Are the banks IT department that “dummed down” that they can’t write the programs to handle real time processing?

“It’s up to you to know your balance and know what checks and debits you have outstanding”

No, that’s my banks job. I wasn’t good in math.

This is a column on NSF fees. If you have only had 1 NSF fee in your whole life, why would you even comment on this post?

“…when an automatic draft is submitted ahead of schedule…”
I don’t sign up for automatic drafts for any of my bills. I pay them one by one as they come due. To me, this system keeps me in control of my finances.

“…forget about a $4 coffee they bought with a card…”
If my finances are that tight that a $4 cup of coffee will push my account balance below zero, something is tragically wrong with my decision to purchase that cup of coffee.

“…family’s income is reduced by unexpected or tragic circumstances…”
Proper planning and a good savings will mitigate most of these circumstances. But, I do agree with you on this point – you can’t plan for everything, no matter how hard you try.

“…everyone who overdraws is not a lazy, financially incompetent whiner…”
I tend to agree with you on this point most of the time. A one off mistake doesn’t make you stupid, even if you do it a few times a year. We’re all busy and human, I understand that. But, the people who are overdrawing their account over and over and over again and paying hundreds or maybe even thousands of dollars in NSF fees to their bank every year because of their mismanagement of their finances … in that case, they are a lazy, financially incompetent whiner AND a moron.