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Years ago when we had a business importing products, my bank allowed a charge from Italy that overdrew my account by $2,300. The company shipped an order we had placed 2-3 months before and just used a card we gave them the year before with no warning. I asked my bank why tf they would allow a purchase from overseas to overdraw my account by over 2,000 (which of course incurred a bunch of fees) and they said they do this “as a courtesy to our customers”. I asked if they could not do that in the future, and they said no. Meanwhile I go and try to buy groceries and if it’s $6 over the limit it’s denied for insufficient funds.
Pretty sure it is now legally required for banks to let you opt out of overdraft protection, in fact I think it’s all opt in. Because of bullshit scams like this.
My bank seems to have stopped charging overdraft fees altogether a couple years ago and they haven’t done it since. Might be more related to all those class action checks I’ve gotten in the mail than as a “courtesy to their customers” though. Who can say?
They can still charge them, but in theory only once. Not over and over for each transaction over.
Several years ago I made an ill-advised trip to the ATM in a strip club. My bank did the smart thing and cut me off, so I called the number on the back of the card but an automated recording told me they’re closed and to call back during business hours. Went home with enough money to still pay rent, but still needed to unlock the account, so I called first thing in the morning. The entire process was automated. “Press 1 if this transaction was from you or 2 if your card was stolen”.
Not sure if the automated system takes the night off, or if there’s just an extra rule that lies about it to help you avoid certain mistakes.
Mine flags my rent payment literally every month when I buy a money order at the Walmart less than a mile from my house. This has been to the same merchant on the same date for almost four years. Even so, they have never once flagged any of my travel.
I’ve started just using the ATM in Walmart and paying cash, because a $1k ATM withdrawal is fine, and they refund ATM fees.
I’ve actually usually been impressed with my credit card provider’s ability to detect fraud. I’ll go on a trip overseas without telling them and all is well. They will flag a weird charge at a restaurant in like North Carolina though. Pretty impressive.
My bank’s app is incredibly detailed about customizing locks on your card. You can go by retailer, type of charge, set geo fences, or even have it only allow purchases where you’re physically located if you let the app have background location.
That’s so cool! What bank?
It’s a small locally owned one, they contract with another service to provide the online functionally, I think.
I’ve traveled quite a bit. The only time I had a problem I was in Russia. I notified my bank of the trip. Tickets were on the card (debit card), initial cash withdrawal there on the card, restaurants, street vendors, stores, online shopping, all on the card. Needed a bit more cash and the ATM ate the card. Luckily I had a credit card from a small credit union that had no such controls.
Were you in russia before or after… um you know…
The soviet union? It was 2009. Not in the last 17 months, no.
Random account shutdown when you need to transfer money while on vacation is truly something else.
“Nooooo, you can’t just freeze my bank account when I need an emergency surgery in a foreign country!”
“Haha account goes [Error, Fraud Detected]”
New fear unlocked. I was pissed I couldn’t transfer money to pay for a bus ticket, but in comparisson,fuck that.
