[bambiedking]

So I go online to my bank account this weekend and I notice a new link. It says: Direct deposit check advance. So I am thinking what the hell is this link? I click on it and read about it. Well, the bank is giving out check advances with 120% interest to people who have direct deposit. The interest is $1 per $10 you get and it must be paid with your next direct deposit by yourself or within 2 weeks. Cash advances are terrible ways to finance or get money. My father in law, who is a gambler, always gets cash advances and he is in financial shambles all the time. My brother in law is the same way, always owing money to the cash advance places. My husband and I have spoken with them until we are blue in the face about financial responsibility and how stupid it is to continue getting these cash advances. I am just completely floored that banks are stooping low enough to get involved in giving out cash advances with a click of a button with online banking. This is a disaster waiting to happen for all of the finacially illiterate people in this world, who need cash quick.

Thanks for listening to me vent! What do you all think about online banking cash advances with 120% interest?