As reported by the Milwaukee Journal Sentinel, some universities in Wisconsin are getting heat from students that are not happy with their campus card banking programs. The article reports that at least two of the campus card accounts have higher overdraft fees than other area institutions.
Administrators from the University of Wisconsin Oshkosh responded to the Sentinel article in the Fond du Lac Reporter, stating that “the story did not fully and clearly describe the nature of and reasons for such cards.” It states that U.S. Bank “competitively bid via the UW System procurement policies and practices” and “provides a highly efficient, effective way to deliver a sophisticated, all-in-one card service.”
“While recognizing that larger financial institutions typically offer a wider array of services and thus, may charge higher fees for some of those services,” the response continues, “we will use this opportunity to review the fee policies associated with offering our students the best services for the best value.”
Editor’s note: Perhaps we should also remember that overdrafting our account is not a practice to be accepted or condoned. It is bad financial management that we should educate against–rather than striving to make less painful.