I never pay overdraft charges, my trick is to live within my means and keep in credit.Remember it's savers money you're using if you go overdrawn NOT the banks money,without us savers the banks would be broke,don't believe me think Northern Rock.If it was up to me no one would be able to have an overdraft, if you can't afford it don't get it as i say live within your means.
"If it was up to me no one would be able to have an overdraft, if you can't afford it don't get it as i say live within your means."
If it was up to you, millions of small businesses would therefore go bust - overdraft facilities are, and always have been an important tool in the operation of a business. Without overdrafts and loans there would be no savers, banks would not be able to function.
"without us savers the banks would be broke"
They would be broke without borrowers, too.
Banks invest money that's on deposit, and a large part of that investment is in the form of loans and overdrafts. No lending, and there's less income to pay interest on deposits - people like you, who live within their means produce no income whatsoever. If you save with a bank you expect interest on your money, and where do you think that comes from?