The Overdraft Terror

I had met the manager of a public bank in Eskişehir.

Our relationship, which began as customer and manager, turned into a friendship because we were from the same hometown.

We even built such a friendship that we maxed out the bank's representation expenses.

He was kind enough to host not just me, but my close friends as well.

After eating and drinking, following a long conversation, and after tipping the waiter who brought the bill, he would warn him, "Son, make sure to issue a meal receipt."

Back then, overdraft (KMH - a type of credit product linked to your demand deposit account) limits were not very high.

Perhaps they were no more than half a salary, or maybe one at most.

Since our business was going well, we didn't pay much attention to the overdraft limit.

Being friends with the bank manager came back to us as an overdraft favor.

He assigned me a limit ten times my salary, a limit none of my other friends had.

As I said, our business was good back then.

Since our salaries were sufficient, it never crossed our minds to use the overdraft limit.

Now the situation has changed.

We are pushing the limits.

A limit ten times the salary doesn't even make a dent.

However, another dire problem has emerged.

Overdraft interest.

The deposited salary is no longer enough to cover the overdraft interest.

It swallows the salary instantly.

Whatever kind of interest model it is, my dear manager's overdraft scheme has reached a point that would make even the legendary loan shark Maraz Ahmet of Tonya pray for mercy.