Listen carefully people. You are being duped and 'they', as in Automated Clearing House and your Bank, know that without a class action lawsuit they can rip people off so until someone does so, this will keep happening. How can you 'beat the system?'
Pay attention c ause I will show you how to stop these fees and take control of your bank account. Short of your filing a lawsuit, there isn't much you can do as of now. It is a pretty complex little scheme they are playing with YOUR money.
1. Go to your bank.(yeah, I know, it takes time to do this)
You need to go into your bank and speak to a manager, not a clerk. Insist that all ACH, or Automated clearing house transactions, be STOPPED immediately. You need to get rid of any 'linked' atm card your bank issued, as well. The Bank is NOT your friend.
This will stop the ACH transactions altogether. Now, your bank might fight you tooth and nail on this, but fret not, don't get excited, don't yell at the clerk or make a scene. Just be be firm. Tell them that if they do not work to stop these transactions, you will close your account. Believe me, someone will do something. They want your money in there because they lend your cash and use your deposits to borrow against from the Federal Reserve, at 10:1 ratios. For every dollar you deposit, they can borrow and lend 10 times that much from the FR without actually having the cash on hand. Believe me, they don't want to lose your 'numbers', so they will do what you ask, but be firm, talk to a manager, NOT a clerk.
2. Stop using your ATM debit card issued by your Bank. Yes, this causes inconvenience but you will have to change your habits to keep YOUR money.
HOW IS THIS HAPPENING ? WHY ARE ALL MY CHECKS BOUNCING? I know I had the money in the account when I made the transaction!
Don't blame yourself, it isn't you. It is the way the 'system works' today. They are stealing your money slowly, using automated programs to determine when your balance is low and furloughing clearance of your daily transactions at merchants..
Whenever you use that card at merchants, etc it is handled by this thieving entity, AUTOMATED CLEARING HOUSE, who will hold the payments to your account until it shows a low balance. The banks may or may not be involved in this scam, I don't know but they assume YOU are stupid and can do nothing about it. Prove them wrong. Stop using your linked ATM card with Visa or Mastercard log and simply get a prepaid Visa not associated with your checking account. Use cash and checks to live your daily life.
See, they use this trick - computer programs that monitor your account for a low balance. They hold the transaction until your account is low, sometimes a week after you make your purchase, then send the payment through and the bank clears it, then charges you a fee. The bank might take a cut, so does ACH. They make billions per year, doing this. This is rampant in the banking industry so that they can ensure a nice fee on top of the original merchants transaction. This of course, creates a 'domino effect' on your account, and a whole slough of checks bounce and sometimes you are out, say, 100 dollars per pay period in fees. The bank hopes you won't do anything about it, be embarrassed and not come in and say anything when they know the scam as well as anyone. Don't be embarrassed, throw their lies back in their faces. If you don't, this thieving cycle repeats ad nauseam, every pay period. How do they know what your account balance is? Well, they have access to your account, of course! You inadvertently granted them authority to debit your account when you signed on the pinpad at Target using your ATM visa or punched in your ATM number at the gas station. In this day of computers, their job is to make money on top of the fees they charged the merchants for use of their services and you, of course, are those 'added' profits they tap into. I know it sounds evil, but that is life in the computer age and look at corporate America today? Honest, right? WRONG. Burn in Hell, Bernie Madoff.
Good luck, honest people of the world.