Why Banks Hate Payday Loans – Redondo Beach Payday Loans Posts

Banks don’t hate payday loans since they offer them to their customers clomid tablets buy online. It is double dipping on their part since they charge overdrafts as well. A payday loan is a discount overdraft fees, and many of our customers get a loan from us, and put the money in their checking accounts before their bank hits them with an overdraft.

There must be something wrong with the banking system if customers have to come to us and put money in their account to avoid the bounced check fee. It simply means that the banks are charging too much, and need to lower their fees. Will they ever consider lowering the overdraft fees? No chance in hell. The banks are too greedy, and have already caused economic damage to our economy from their reckless subprime loans.

Has your bank ever shared with you effective ways to help you save money? I have never seen it advertised, because the banks are more interested in charging fees. Ever wondered why Washington Mutual never charged a fee for their checking account? It was because they knew that people who used their checking account would bounce more checks than the usual bank customer.

What are the fees that banks make from overdrafts? The overdraft business is a 32 billion dollar industry. The average rate that banks charge in overdrafts is near 4000% a year. That is 10 times what a payday loan lender charges. So who is the wolf in the sheep’s clothing?

About James Betz

James Betz is an authority in the check cashing and payday loan business for over 13 years. His writings can be found in various forums and articles.
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