- Checks clear almost immediately; deposits take days.
- Largest checks processed first which can increase the number of overdraft fees
- Charging for potential overdrafts
- High fees and interest from Courtesy overdrafts
- Large fees for using personal finance software
- Closing accounts when credit score drops
On the last bad practice, the article mentioned the incident at ING Direct when many Electric Orange customers received emails telling them their checking accounts would be closed due to their low credit scores. This turned out to be a mistake by ING. According to ING, the bank only uses credit scores to determine the size of the customer's overdraft line of credit.