Understanding Bank Overcharging: A BankKeeping Perspective
In recent years, thousands of businesses and individual account holders have discovered that their banks were quietly deducting amounts under the guise of hidden fees, unexplained penalties, or irregular interest charges. These charges are often so well camouflaged within complex statements that unless you're actively reconciling your bank transactions, they're easy to miss. BankKeeping empowers users to detect and dispute such hidden overcharges by offering automated reconciliation and real-time flagging of abnormal bank charges—something traditional manual tracking often fails to achieve. What is Bank Overcharging? Bank overcharging refers to when financial institutions deduct more than the agreed or legally permissible amount from your account—be it in loan interest, service fees, or penalties. This can occur: Due to miscalculated interest Interest charged before disbursal of funds Duplicate or unjustified fees Inconsistent currency conve...