Help....my bank account is overdrawn by $ 450 but only $50 is money I actually used....?

Question

The rest is overdraft fees! I cant pay this so what happens if I just dont? Will my credit get really screwed up? The bank refused to take anything off. I can't beleived I was charged $40 for only spending $1.05 It seems so unfair. Do I have any other options? Someone please help!

Answer 1

THIS IS SOOO IRRITATING.....I had a checking and "share" acct (with a $25 balance) at Credit Union, and ATM transaction overdrew the acct by $1.45. Silly me, had already opened up another acct at different bank so I figured I would let those accts sit a couple of weeks and close them out. WRONG, when I finally opened up a statement I was in shock that the share acct was still there but the checking now had a balance of -$386.00! Now I thought that when you try to get more money then is available, the ATM transaction should decline, WRONG AGAIN, (oh did I mention I worked at a bank for 4 yrs :(). Got as far as you did at the branch and left more irritated then before, two days later the Sheriff shows up to serve me with Court Papers. I go to the bank because I can't afford to miss work at this point and ask the girl at the counter "after transferring the $25 from the share account, what do I need to pay?" She has me write a check for $350 + dollars, and says the accts are closed. End of story....nah...I get a call 2 days later from the branch manager saying that if I don't make the 50 mile trip by the end of business day to pay the additional $43 in fees, the teller left out, I would be in contempt of court............

Open a new account quick and hope the bank burns down. Keep your chin up :)

Answer 2

This happened to me too, and my husband. Banks are soooo unreasonable. It's ridiculous and frustrating I know. Stop using this account, call the banks 1-800 number, they're more helpful than an actual bank branch, tell them you are no longer using this account and to close the account out or else these fees are just going to keep building. They'll close the account, send you a notice that you owe them how ever much money and you can set up payment arrangements. Don't worry if you can't pay it all at once, just pay something every thirty days and it won't go on your credit. Open a new bank account QUICK because if you have an outstanding account with another bank, they can stop you from opening an account somewhere else, but not if you beat them to the punch. Unless you're just tired of banks, which I am, then you can resort to cash and money orders. Good luck!

Answer 3

I work at a bank and here is what you could do. I would try to contact another branch or even the corporate office. Perhaps you will get somone that is more compassionate. Explain how you can't afford all of the fee's and see if there is anythign that they can do for you. I would not suggest ignoring it because they can take you to court for the money and most will. Yes, it will effect your credit and your chance at opening an account at another financial institution....best of luck to you.