Bank Marketing : Helping you overdraft is our pleasure!


3 Comments// Posted in Uncategorized by on 03.19.10.

I just received this delightful piece of e-mail alerting me of an account feature that I will no longer have for my bank account due to the recent changes in Federal bank regulations…

Dear LAUREN,

IMPORTANT CHANGE TO YOUR ACCOUNT! Due to changes in Federal banking regulations, soon we will no longer be able to provide BankAtlantic Debit Card Overdraft Assistance on your account – unless you tell us by August 15, 2010 that YES, you would like to keep it.

Your BankAtlantic personal checking account has a convenient feature called BankAtlantic Debit Card Overdraft Assistance. With this feature, your everyday debit card purchases and ATM withdrawals may be approved – at BankAtlantic’s discretion – in the event that funds in your account to cover those transactions are unavailable. Best of all, there are no fees if you don’t use the service.

It happens…

This valuable service can help you avoid the inconvenience and frustration of having a debit card or ATM transaction declined. Say, for example, that you made a debit card purchase but forgot to make a deposit first, or maybe a deposit that you expected to hit by a certain date came in late…you might think you have sufficient funds to cover your transaction, but it could be declined.

If you value the peace of mind that this assistance provides, don’t let “it” catch you unprepared! Make a quick call to 1-888-398-4YES (1-888-398-4937), or just stop by your neighborhood BankAtlantic and tell an Associate,

“YES, I want to keep this service on my account!”

Elections for this service are effective on August 15, 2010.

Thank you for banking with us.

Patricia Fernandez-Lefebvre
Executive Vice President

Chief Retail Banking Executive

Remember: if you don’t tell us “YES, I want to keep Overdraft Assistance”, by August 15, 2010, your debit card will not work the same way as it currently does.

Let me sum that up for you real quick:

Dear CUSTOMER,

Due to recent banking regulations put in place to protect Americans from misleading and deceitful practices, we will no longer be permitted to allow you to make purchases when you don’t have money in your account unless you TELL us you want to make purchases when you don’t have money in your account. Don’t let potentially ass-saving regulations cause you possible embarrassment! If you don’t allow us to help you overdraft, the next time you try to make a $5 debit card purchase that breaks your balance, you will not be able to make it! You will not be able to purchase that gum and magazine, and we will not be able to charge you an extra $35 for doing it. How embarrassing! Make sure that you help us help YOU help US.

XOXO,
Takin ur moneh.

This is brilliant. I want to work for a bank.


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3 Responses to “Bank Marketing : Helping you overdraft is our pleasure!”

  1. Kristine says:

    Oh this is hilarious!

    When I was a teller I’d see people get screwed by this all the time, and I got yelled at by management once for telling a customer they could opt out of overdraft courtesy.

    It’s absolutely insane because it isn’t something that we’d tell people about when opening their account (and this is why I had management get upset with me- I didn’t know it wasn’t something we disclosed and they said the customer would be angry. Well duh!)

    So if somebody did something silly like assume that they wouldn’t be able to make a purchase if funds weren’t available…we’d charge them.

    Keep in mind this won’t fix everything though. It depends on your bank but could still have situations where a transaction gets approved because at the time the money is there, but then it doesn’t actually clear right away and when it tries to clear the money isn’t there. This actually may depend more on where you are shopping than the bank itself. I’m not 100% on how it works but think that some places only send through their credit/debit card transactions once a day or whatever.

    Soooo..you really still need to keep a register. Or do what I do and pretend that last 500 in your account just doesn’t exist. I’m too lazy to keep a register.
    I just check after I make purchases to make sure they clear and have a good enough memory to be able to tell if something hasn’t gone through yet.
    Especially since I use BoA and things typically go through pretty much immediately.

    I also put absolutely everything on my credit card and then just pay it off before due date/finance charges would hit.

  2. admin says:

    Yeah, I’ve seen the alternate-situations happen… where a hundred-plus-dollar check you wrote two months ago wasn’t cashed, you figure “meh, I’ll get paid before it goes through”, it does through, and you overdraft because of that. Obviously it won’t cure everything, but having the multiple overdraft fees for every transaction you make can be incredibly brutal, and I think this at least cures the situation where people make some purchases, don’t realize they’ve gotten to zero for whatever reason, but stop at that last place or two to finish their errands and end up with hundreds of dollars in fees.

    I just think it’s hilarious that the banks are marketing this as a SERVICE they offer vs. something they pretty obviously use to make profits.

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