Wow, this is truly ridiculous. I recently moved to the US (yet to set up a bank account here) and did not know about this. Back in India, if you don't have funds, your transaction is declined. Plain and simple. And no fee for that, either. This is pure unleashed greed. Now I know why bankers are so hated out here. Banks have way too much power, way more than the benefit they provide. This whole system needs to change. Horrible!

And I am sure we are going to find this kind of shit in India soon, because from what I see, we are blindly copying the American way over there. The good, the bad, everything.