for some odd reason it seems I can spend more than what I have in my bank account with my debit (not credit) card. I'm not going to be billed right?
2006-10-14 18:07:39 · 12 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
Depends on the account you have. You may have overdraft protection and that protection may be with or without penalties/fees.
2006-10-14 18:11:34 · answer #1 · answered by Yinzer from Sixburgh 7 · 1⤊ 0⤋
No -- something is wrong there. You can not spend more than what you have in your bank account when you use a debit card. That's why they are so great. People don't get overdrawn using a debit card, and don't get hammered with OD charges. If yours isn't working that way, go to the bank and check it out, or you're going to get a nasty surprise one of these days.
2006-10-14 18:16:51 · answer #2 · answered by old lady 7 · 0⤊ 0⤋
Yes, it is very possible to spend more than what you actually have in your account. If you have written checks that haven't cleared yet, your bank balance will show more than it actually is, so the debit card transactions are approved. Then the debit transactions clear and you are overdrawn. Overdraft fees are very expensive.
You might also lose your debit card privilege or have your account closed. Banks are unable to return a debit card transaction due to non-sufficient funds (like they can return checks), so they are not lenient when it comes to overdrawing your account with your card.
2006-10-14 18:21:19 · answer #3 · answered by matty.. 4 · 1⤊ 0⤋
Most banks have their own little scam that people don't know about. When you check you balance at an ATM, it actually shows a higher amount that what you really have in your account. By doing this people spend and overdraft their accounts, guess what then you owe the bank for every overdraft charge.
2006-10-14 20:32:59 · answer #4 · answered by show_em_your_badge 3 · 0⤊ 0⤋
HA! When you go over what you have in your account you get an overdraft fee, and that can be $30 easy! It's like bouncing a check. If your checking account is tied into your savings, the bank will start pulling money from that to cover the amount you go over, and there is a fee for that, too.
2006-10-14 18:16:42 · answer #5 · answered by tsopolly 6 · 1⤊ 0⤋
oh yes u so can! people have this misconception that you cant as its deducted at the time from your balance but thats not the case. cash machines wont let you take more than u have but if u use it as switch/maestro u can. some shops have certain limits that the transation doesnt go through a certain system at the bank and therefore they just debit your account after a few days of the transation. but there are chgs attached to this. and itsd per item not a one off. its a hard process to explain in short form it takes explanation of the bank system.
2006-10-15 02:59:37 · answer #6 · answered by xrazberix 2 · 0⤊ 0⤋
depends. is your debit card attached to a line of credit? you will get charged if you bank account doesn't have the funds available and you go into the negative. i'd check with your financial institution to figure out what is going on.
2006-10-14 18:17:19 · answer #7 · answered by Aubrey's mommy 5 · 0⤊ 0⤋
Be mighty careful with this or you could find yourself paying big-time fees! You may have an "overdraft" line-of-credit that is protecting you, but you will still be charged interest on the money that you have used in the line-of-credit.
2006-10-14 18:53:05 · answer #8 · answered by Anonymous · 0⤊ 0⤋
Yes, however to get someone to actually pay you for a product you are selling, they are very untrustworthy of unverified paypal accounts. You can however use the 200$ in your paypal account to buy something that accepts paypal.
2016-03-28 09:48:58 · answer #9 · answered by Anonymous · 0⤊ 0⤋
ohhhhhhhhh yeah you'll be billed. Heavily. Overdraft charges on every expenditure over your bank balance. Believe it.
2006-10-14 18:11:52 · answer #10 · answered by Baby'sMom 7 · 1⤊ 0⤋