regarding my thread about being raped by the bank - Dallas Dance Music - Dallas nightlife, music, tickets, and more

Sindell357 · 08-20-08, 04:10 PM

My good buddy Wes Stubblefunk sent me an article about how these things accumulate and I think this is one of th major ways I'm getting screwed -

Banks reorder transactions to maximize the number of them that can be considered overdrafts

Say you start the day with $100 in your account. You buy a latte ($5), fill up on gas ($50), buy groceries ($35), swing by the drugstore ($8) and then the dry cleaner's ($25). Processed chronologically, only the last transaction triggers an overdraft. Reordered from high to low, however, three purchases do.

Fucking wack!

Robin T. Fine · 08-20-08, 04:13 PM

Oh okay. I was wondering what reorde meant.

That makes so much sense though.

Sindell357 · 08-20-08, 04:22 PM

yeah bad editing on my part

DREX · 08-20-08, 04:34 PM

i heard snoop was a bank teller

St. Stalin the Apathetic · 08-20-08, 04:52 PM

not sure if they can still do this but not only would they process the days transactions from highest to lowest but..... they'd process those transactions before processing deposits which could have covered those overdrafts.

DjKrispy · 08-20-08, 04:58 PM

Yea, I'm surprised not everyone has figured this out yet.

Quote:

Originally Posted by xian

not sure if they can still do this but not only would they process the days transactions from highest to lowest but..... they'd process those transactions before processing deposits which could have covered those overdrafts.

Pretty sure that's an accounting rule, Debits before Credits.

thumpcbd · 08-20-08, 05:25 PM

Wow...someone read the consumerist today, http://consumerist.com/5038579/watch...verdraft-traps

Gomer · 08-20-08, 05:32 PM

The root cause is still the same regardless.

dBu · 08-21-08, 08:23 AM

Quote:

Originally Posted by Gomer

The root cause is still the same regardless.

Yeah no shit. Either make more money or learn how to manage it. I LOL hard every time I see someone on here bith about how they bounced an $15 check.

08-20-08, 04:13 PM	#2 (permalink)
Robin T. Fine Muchacha Sucia Join Date: Mar 2006 Location: Richardsonville Posts: 30,815 Blog Entries: 6	Oh okay. I was wondering what reorde meant. That makes so much sense though. __________________ I slit the sheet, the sheet I slit, and on the slitted sheet I sit." There. I've never been relaxed enough around anyone to say that.

08-20-08, 05:32 PM	#8 (permalink)
Gomer Join Date: Dec 2004 Posts: 3,722	The root cause is still the same regardless. __________________ 420 4eva son _____))__ ____((((___ ___OOOO__ ___OOOO__ ___OOOO__ ___OOOO__ ___OOOO____)) ___OOOO ___((( __OOOOO___("") _OOOOOOO / / .OOOOOOO/ / _OOOOOOO/ __OOOOOO

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08-20-08, 04:34 PM	#4 (permalink)
DREX ayatollah of rocknrollah Join Date: Sep 2005 Location: the wasteland Posts: 9,807	i heard snoop was a bank teller

08-20-08, 04:52 PM	#5 (permalink)
St. Stalin the Apathetic an apparition Join Date: Jun 2005 Posts: 31,020	not sure if they can still do this but not only would they process the days transactions from highest to lowest but..... they'd process those transactions before processing deposits which could have covered those overdrafts.

08-20-08, 05:25 PM	#7 (permalink)
thumpcbd Join Date: Jul 2003 Location: Lake Highlands Posts: 1,244	Wow...someone read the consumerist today, http://consumerist.com/5038579/watch...verdraft-traps