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How is daily periodic rate calculated by banks? 14.00% Annual. Daily periodic Interest of .000383562


On $290.90 should my bank charge me $2.45 interest in 3-4 days lapse @ daily periodic Interest of .000383562%. It seems crazzy lot at that daily rate? Here is the Running Overdft balance: $205.35 on 10/5, $54.31 on 10/6, $31.24 on 10/7. Fee Interest= $2.45 on 10/9. HELP.The bank's employees don't know didly- their answer is "Oh it's done by computer" blank stair.....

 

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Financial Help says

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6 years ago
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