Overdraft fees comprise one of the most lucrative tools banks use to make money, and although the technology to give the right information to the customer can easily be applied, the banks so far have not made that offer.

Banks made $30.8 billion in 2011 after all, and with this amount of money the solution has to be provided by someone other than the banking industry. That’s where IIICTECH comes in, the company responsible for creating WINK, an app being incorporated with a wearable device from BLINK that will make overdraft fees obsolete.

“They are a tech startup driven by unspoken philanthropic ideal driven by a common goal to do good; be excellent,” stated the developer.

This philosophy probably goes against most business models, especially that of the banks.

The problem with finding the balance of your bank account is that it takes time. You have to put in your user name and password, and if you don’t have the right device to provide that information, you can’t access your account.

As it is, most people don’t want to go through the trouble of going to the bank website or make a phone call and go through all those steps, so instead they purchase what they need, knowing if they go over their balance, they’ll just pay the overdraft fee – to the delight of the bank.

IIICTECH has created a patent pending device that will immediately provide the balance of an account before s/he makes a purchase, no matter where they are. The wearable device is made from polished aluminum, comes in different colors and can worn on a keychain or around one’s neck, accessible anytime. It has an OLED display, Bluetooth 4 and is water and shock proof.

The rapid charge can be made through USB 2.0, AC adapter and a smartphone cable.

This application is the first-of-its-kind On-Demand and Pre-Purchase Technology. Future upgrades will provide additional information such as stock reports, caller ID, e-mail and text message alerts, login for personal devices and websites, and an interface for Near-Field Communications applications.

The BLINK device will provide an invaluable service for people who have been charged outrageous overdraft fees for a simple mistake. The bank could have provided this service for their customers and gained an invaluable public relations point, but they’re probably not “driven by unspoken philanthropic ideal driven by a common goal to do good; be excellent.”