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Comment by xeromal | Hacker News Reader

It seems like there could be two kinds of customers at a bank. One who doesn't get to operate on credit or overdraft protections, but still can us the bank as a means to keep their money safe while allowing customers who can be trusted to still use those extra resources.

Seems like a win win for everyone. Banks should probably be required to allow at least a minimal bank account even to people who aren't the best with their money.

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Win win for everyone except the banks, they make huge amounts of money off punitive overdraft and are not interested in letting that go. $12.4 billion in overdraft fees in 2020

A credit union I used to belong, had a piece of paper hanging on the wall right next to the tellers, it had their running income monthly from overdraft fees.

Before the 2008 real estate collapse, this number was less than $100,000 per month.

During the recession, I noted it was going as high as $600,000 per month. At one location in Sunnyvale Ca.

I don't doubt you, since you saw this first-hand and didn't hear it from your friend's cousin's dog. But what purpose could a sign like that serve for tellers?

It wasnt for the tellers, it was literally for the banking customers.

It was the statement of revenue the credit union had - the overdraft section was a single line on the document... I am uncertain as to why they posted it, aside from a "transperency" for the credit union members...

I could be outdated, but weren't overdraft feels turned off by default during the Obama era? You have to go out of your way to turn them on now.

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