Is it possible to overdraw with a debit card?

Question

I was recently charged $28 for overdrawing from my Washington Trust checking account. The thing is, I used my debit card on the purchase they said I overdrew with. Wouldn't my card have been rejected if I didn't have the money in my account? I was buying gas, so I ran my card before the amount was decided, if that makes a difference.
I've always been told that you can't overdraw with a regular free checking account debit card, so this has me confused. Also, does anyone know if the bank will drop the charges if this has never happened to me before? Thanks

Answer 1

The bank may drop the charges if it has never happened before and if you explain that you didn't even know it was possible.

However, it is up to you to know how much is in your account and only spend that amount. I keep a little buffer in my account to allow for some minor mathematical errors.

You can over draw with your ATM because it usually takes 24 hours or more, for all your transactions to be subtracted from your account. That means today you are spending the money that was there yesterday, but tomorrow when they process the money it is based on what was in your account today.

It can become mind boggling the number of checks and ATM transactions that just keep bouncing along . . . Protect yourself, know exactly how much you can spend and keep a buffer in there you never spend.

Answer 2

Yes, you can be overdrawn using a debit card. Especially when they also are used as credit cards.

With a debit card, the funds are immediately taken from your account. With a debit/credit card, the funds aer removed about 3 days after the purchase is made.

When purchasing gas, the account is "marked" for $1 to make sure it is a valid account. Then you pump gas. The full amount comes out immediately - 3 days later.

Since you have never been overdrawn before, call your bank and ask them to reverse the charge. If they refuse, call over and over again until they do.

Answer 3

Yes.
Some banks let the charge go through no matter how you use your card. Pin or signature transaction. Mine claims they don't. I never tried it.

However, Steven F is correct about the gas station. That why I never use it at the pump. Some gas stations will even do this inside even. Other gas stations sometimes authorize $75 or more. Which will cause funds not to be available for up to 7 days.

Answer 4

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Most likely your bank will charge you an overdraft fee. Since you made two purchases, your available checking account balance will be reduced by a total amount of $510. The bank will charge you an overdraft fee just for exceeding your available balance. That's how they maximize fee income. Not all that fair, but still a common practice. Cancel the first purchase as soon as you can. And if your bank charges you an overdraft fee, protest all the way up the line until you get refunded or you get tired of trying!

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Answer 6

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Answer 7

You said you were buying gas. Most gas stations request approval for $1.00 when you scan the card at the pump. After you pump the gas, the actual amount of the purchase is submitted to the bank for payment. As long as you have $1.00 in your account, the purchase will be approved even if you don't have enough to cover the entire purchase.

Answer 8

same thing happened to my sister in law. they continue to allow you to use it because they charge you fees with each purchase. they make alot of their profits from fees. your charges will increase each time this happens. if it was 28 this time it will probably be 32+ if it happens again. keep your banks number in your cell phone and when in doubt call and check your balance before you make a purchase. good luck

sometimes by talking to a supervisor you can the charges reversed once in a 12 month period. hope this helps

Answer 9

Not out of the ATM but when making purchases I believe it is possible.
The best you can do is be very aware of your balance before making purchases or payments.

Answer 10

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