If you have "no place to go," come here!

"This transaction would overdraw your account — swipe again if you really want to do that"

So why isn't there any technology that does that?

Because the banks would rather charge you $35 a pop for an overdraft, that's why.

Rent-seeking behavior!

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TonyRz's picture
Submitted by TonyRz on

I recently encountered precisely this message - for the first time ever- attempting to withdraw $$ from my PNC account at a PNC ATM. (I assumed they were wrong, went ahead, and - duh! - overdrew, but I digress.)

But point is, I've been a customer of theirs for years, and the usual MO is to just let you go and discover the negative balance on your printed slip when you're done withdrawing (No, ATM balance inquiries aren't free.) and await the final damage report in the mail days later.

But this was the first time I had ever seen such a message, and yeah, the ATM "knew" I was asking for too much and told me I might overdraw if I went ahead. (Note that balance inquiries still aren't free.) I expect fewer overdrafts in my future thanks to this new approach.