I've been banking with a fairly small banking institution located in only Texas & California. I've had multiple problems with this bank however- never really had the chance to cancel or switch. Now that's probably kicking me in the butt. I had 100.00 in my account- everyone knows how it gets toward pay day... and something just told me to check it. I was told I had -265.00 in my bank due to an overdraft item fee--- what is that? I'm really good about keeping track of my finances and I was blown away by that charge. 3 days later- I'm notified that I'm -485.00 in the whole now? I'm not using the card how is this possible? What do I do- i don't want to owe money and there's no way i can pay off that hefty 485.00 that seems to be increasing daily. Do i cancel the account and give them the money in two payments or just not deal with it? What happened to my money!!
2006-07-17 08:08:18 · 7 answers · asked by Jessica S 1 in Business & Finance ➔ Personal Finance
Call the bank and ask. Don't pay it until they tell you what it's for.
2006-07-17 08:12:30 · answer #1 · answered by Misty 3 · 0⤊ 0⤋
You need to contact your branch and request a history of the account, or go in and get a print-out. Every bank charges NSF (insufficient funds) fees that range from $20 to $60 and they charge for each and every item that overdrafts the account.
Once you've determined what overdrew you, you can ask for a refund of the NSF fees, and you'll most likely be given at least one or two back (as long as you don't have a history of overdrafts).
I would also question the bank as to why they allowed the overdraft and why the card purchases were approved if you were already overdrawn. Some banks will allow you to overdraft your account to a certain limit before rejecting purchases, but they still charge you.
If this was a bank error, they should correct it for you immediately. If you notice any strange purchases that you didn't make you will need to notify the bank immediately and they will have you fill out an affidavit of unauthorized activity to get your money back (if it was an electronic purchase they have to give you credit w/i 10 days, if it was a draft or check it could take up to 60 days).
2006-07-17 15:24:50 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Depends.
What sometimes happens is those checks or debit card (ie. grocery, gas, eating at restaurants) purchases you did 3-7 days ago are only now coming through and you are now getting hammered.
And you can cancel the account all you want, but the bank will tell you that you owe the money. And yes, they do charge interest. What they will do with you next paycheck is take it out until you are squared away.
Check your account online and see when you checks are bills cleared. That's probably what happened.
2006-07-17 15:22:32 · answer #3 · answered by King H 6 · 0⤊ 0⤋
It sounds like maybe your paycheck bounced. You can't "not deal with it". Get down there or call them and find out what happened. If it was an error by your employer they will probably reimburse you for all the late fees.
You may also have authorized some agent to withdraw monthly fees from your account and forgotten about it, which could make you bounce payments. It could be one of a million things, but you have to find out what happened before you can figure out how to fix it.
2006-07-17 15:13:37 · answer #4 · answered by Marion K 3 · 0⤊ 0⤋
If you truly over drafted- yes. But if you know for sure that you should not have been into negative then it is possible that either the bank made a mistake or someone else is using your account.
2006-07-17 15:25:56 · answer #5 · answered by fasb123r 4 · 0⤊ 0⤋
Did you contact the bank and see what the item was that caused you to become negative in your account. It sounds like more than one item because most banks charge $20.00-$50.00 per item. I am curious tell me when you find out.
2006-07-17 15:12:28 · answer #6 · answered by brndnbeaman 1 · 0⤊ 0⤋
sorry it happened with me too
try this u might win some good money
2006-07-17 15:27:52 · answer #7 · answered by ron 2 · 0⤊ 0⤋