Marshall & Ilsey’s stealth “courtesy” overdraft fee.

Don’t steal from me and pretend you’re doing me a favor.

You run into Pik n’ Save for frozen pizza and some Pringles. You pay $11.65 with your M&I ATM card. Erm—didn’t you put your car payment on that account? No prob. The transaction went through, so there must be money in there, right? RIGHT?

Wrong. You’re screwed. M&I paid the $11.65 as a “courtesy” and and charged your account $31 for the overdraft. Sneaky. You can’t ‘opt out, either’. And don’t look for this service in the new account bundle either. It’s a double-secret service.

I wasn’t eligible for M&I’s ‘real’ overdraft protection (“Worry-free Overdraft Protection”)I closed my account over it, and refused to pay the $62 for fees. Done.

Here’s an article on this subject in the Bank Systems & Technology blog