Stile
Phoenix,#2Consumer Suggestion
Sat, November 12, 2005
Most banks process transactions from largest to smallest, this is basically an industry standard process. The theory behind it is that this way your largest items (rent, car payment, electric bill, etc) have the best chance of clearing the account and the smaller more inconsequential items (the burger you had for lunch or the pack of gum you got at the gas station) may get rejected. This framework does also generate more overdraft fees compared to smallest to largest processing, but there is a good reason why banks process things this way. Banks are for-profit institutions, not social service organizations. When you sign up for an account you agree to maintain that account within the terms of the deposit agreement. If you fail to do so, then the bank will penalize you accordingly. If you balance your checkbook every time you make a transaction, then you will be able to avoid overdrafts because you won't forget debits that are due to come out.
Stile
Phoenix,#3Consumer Suggestion
Sat, November 12, 2005
Most banks process transactions from largest to smallest, this is basically an industry standard process. The theory behind it is that this way your largest items (rent, car payment, electric bill, etc) have the best chance of clearing the account and the smaller more inconsequential items (the burger you had for lunch or the pack of gum you got at the gas station) may get rejected. This framework does also generate more overdraft fees compared to smallest to largest processing, but there is a good reason why banks process things this way. Banks are for-profit institutions, not social service organizations. When you sign up for an account you agree to maintain that account within the terms of the deposit agreement. If you fail to do so, then the bank will penalize you accordingly. If you balance your checkbook every time you make a transaction, then you will be able to avoid overdrafts because you won't forget debits that are due to come out.
Stile
Phoenix,#4Consumer Suggestion
Sat, November 12, 2005
Most banks process transactions from largest to smallest, this is basically an industry standard process. The theory behind it is that this way your largest items (rent, car payment, electric bill, etc) have the best chance of clearing the account and the smaller more inconsequential items (the burger you had for lunch or the pack of gum you got at the gas station) may get rejected. This framework does also generate more overdraft fees compared to smallest to largest processing, but there is a good reason why banks process things this way. Banks are for-profit institutions, not social service organizations. When you sign up for an account you agree to maintain that account within the terms of the deposit agreement. If you fail to do so, then the bank will penalize you accordingly. If you balance your checkbook every time you make a transaction, then you will be able to avoid overdrafts because you won't forget debits that are due to come out.
Stile
Phoenix,#5Consumer Suggestion
Sat, November 12, 2005
Most banks process transactions from largest to smallest, this is basically an industry standard process. The theory behind it is that this way your largest items (rent, car payment, electric bill, etc) have the best chance of clearing the account and the smaller more inconsequential items (the burger you had for lunch or the pack of gum you got at the gas station) may get rejected. This framework does also generate more overdraft fees compared to smallest to largest processing, but there is a good reason why banks process things this way. Banks are for-profit institutions, not social service organizations. When you sign up for an account you agree to maintain that account within the terms of the deposit agreement. If you fail to do so, then the bank will penalize you accordingly. If you balance your checkbook every time you make a transaction, then you will be able to avoid overdrafts because you won't forget debits that are due to come out.