When Banks Rob You

In the last 30 days my bank (Wachovia) charged me $10 twice because they had to transfer money from my savings to my checking for overdraft protection. Even as I was arguing with my bank that this is an unfair practice this bit of news had me stunned. Just the kind of stuff that makes me want to plough my fists through a wall. Apparently banks make an astounding 44% of their income through different service fees. I understand that some of these fees are required to keep people from constant finance mismanagement. However, not all of these fees are justified. The banks lure you into their plastic world with promises of world class service and devise cheap ways to take your money away. So, people, take a close look at your monthly bank statement. If there are charges that you don’t understand then call your bank and ask about it. If they are making 44% of their money this way, then there is a good chance that it is happening to you on a regular basis.