Help Bank of America Overdraft (NJ)?

Question

My Account balance was -$55 last night, I deposited $60 @ the ATM , My reciept shows $5 Avail. Now I have 5 Overdrawn amounts , I called and they are being nasty, Is there any protecton I have , I am from NJ

Answer 1

With a -$55 balance, you were already overdrawn, new items came to present on the available money of 5$ and it wasn't enough.

The Overdrafts were because you don't have enough money.

Happens.

Call them, but they will base it on past history and if you have deposited enough money yet to clear the drafts.

Answer 2

Kiting (issuing checks before the $$ is in the bank) is dangerous because they may process before the deposit. ATMs can take 24 hrs , so NEVER issue checks or use your debit card until the deposit has cleared.
Apparently the overdrafts covered you with the merchants but there is usually a fee . . . maybe if you are nice they will wave it but not always.
AND now you know - so this will be the last time you debit before the $$ deposit is posted , right ?

Answer 3

by my calculations the bank is right. You have negative 55 then you put in 60 at atm. now you have five. it looks right 60-55=5. if you have overdrawn you need to talk to your bank. ususally they will void or give back what they charge you for overdrawn. but if do it more thatn once they will not give it back.