Can a bank charge NSF fees on a savings account? A company tried to debit my savings account and the bank charged me $35 NSF fee. Now, they are threatening to send it to collections.
2007-01-18 02:48:56 · 4 answers · asked by Anonymous in Business & Finance ➔ Other - Business & Finance
Yes, a bank may charge an insufficient funds charge if a draw was placed against insufficient funds. Pay it as soon as possible. It will only get bigger.
2007-01-18 02:55:13 · answer #1 · answered by fangtaiyang 7 · 0⤊ 0⤋
If you overdrafted a savings account then yes.
Most likely the bank did not pay the debit to the account because it was a savings account, but they certainly can charge you an NSF fee.
I think your bank is being unreasonable sending a $35 debt to collection.
Nicely ask them to refund it. They are not out any money, unless they paid the debit. Then you should cover the overdraft.
2007-01-18 02:55:00 · answer #2 · answered by Culture Warrior 4 · 0⤊ 0⤋
First of all, who was this 'company' that tried to debit your savings account? Why did they try to do this. Did you authorize it? This could be id theft or fraud.
Yes, if the debit request was for more than your balance, then the bank would charge you the NSF fee. But I would attempt to talk to your bank IF you feel the debit request was in error or fraudulent. If the debit request was valid, then pay up.
2007-01-18 03:03:21 · answer #3 · answered by NHMike 3 · 0⤊ 0⤋
Yes, they can.
2007-01-18 02:52:47 · answer #4 · answered by Phoenix, Wise Guru 7 · 0⤊ 0⤋