Wells Fargo overdraft roulette

Happy Wednesday everyone. We made it. 365 ideas. Had no idea when I started this insane journey that I’d be doing this for so long, but it’s been a lot of fun. At some point, I’ll reflect on this period of my life a bit more, but for now, let’s get onto the concept of the day.

When you don’t have enough money in your bank, you’ll get charged an overdraft fee. Most customers aren’t expecting these fees, and it can be quite disruptive to their financial situation which was already rough to begin with.

Realizing your account has $0 is scary, especially when there’s no way to get money back quickly. This got me thinking about what might be a way to get out of this. You could have z lottery experience that takes a portion of someone else’s funds but in return, your credit score drops.

This would be an interesting social experiment if nothing else, though likely the “cost” would need to be higher to weigh out the potential reward (what if you got 1% of some rich person’s account?).

I also started to think about the fact that some wealthy people have terrible credit. There could be some sort of “marketplace” where people could sell points of their score for cash. This is all pretty dystopian but underscores how much is wrong with the current system.

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