Really. Checking accounts have fraud protection, but what if you want payment protection? What if you want to approve each and every transaction that hits your non-business checking account right there on the spot instead of worrying about why your transaction suddenly did not just go through or getting random texts that you have charges blocking your card? What if the latter happens at a restaurant or gas station and you have to make a call from an inconvenient, noisy place? I’ve been there. Whitelisting transactions should be the norm instead of having to blacklist them.
“Free” checking accounts should not be funded by an excess of NSF transaction fees from the few who make the banks/credit unions money. If this keeps up, I’ll be getting a new debit card, but with my current credit score, I’ll be damned if I can get another checking account.
The real culprit is Adobe. I’ve dealt with them before. Somehow they can bit bang my checking account each month for huge bills, yet claim I owe them a “cancellation fee” too just for trying to stop their incessant billing strategy of hitting my account so often. I’ve racked up over $200 of NSF fees, and $105 of that was refunded, with another already plastered there. This is balogna, and needs to be fixed on both sides. The banking system is outdated. Checking accounts need new technology, perhaps the oldest technology known to human kind to be updated, even more so than test infrastructure at Lockheed Martin for legacy products.