Owe bank money on overdrawn account?

Question

I withdrew money from the bank. I just had three IRS refunds deposted so I had no idea how much money was in there. The balance after I withdrew the money from the inside teller was what I thought was in there. I then went and paid bills bought things I needed. I made big purchases. I then relized that they did not deduct what I withdrew. Now I am 1,000.00 overdrawn only $800. from the money I over spent but the $200.00 in fees. Can I be in trouble with the courts? I am paying it little by little.

Answer 1

No, not as long as you are doing your best to pay it. Banks generally will not come after you over things like this, unless you owe them great amounts of money. Let the branch manager that you go to or one of the employees know that you are working to pay it off, and perhaps it won't get sent to collections. You may have people calling you about it, also. And also you aren't going to be able to open up a new account until this is cleared up, because whatever bank you go to will pull this up on your record until it is fully paid off.

Answer 2

I actually overdrew my bank account before for over $2000, I was charged a lot of fees, I ended up paying like over $200 in fees. The bank will close the account after like 2 weeks and send you to collections. Basically the account is not usable and what happens is that you get letters in the mail stating you owe this amt and etc and you need to pay them. You'll get phone calls as well too. Also if you end up paying them back and they give you back your account with them, they'll hold every check you deposit for like 10 days or something. The banks have this mechanism if you have been a bad customer, they'll hold your checks until they know there's funds. The only way around this if this happens is to cash the check from the maker, so if you have a check from wells fargo, go to that bank and cash the check and then go to your own bank & deposit the $ in your bank account so you will have available funds to pay bills and stuff. It's annoying, but it works.

Answer 3

If your checks have all been paid, there has been no criminal activity. If you have checks that were not paid due to insufficient funds, most states' laws read that in order to be guilty of a crime, you must have written a check knowing that there were not sufficient funds available to pay.

If you only owe fees to the bank, as you are alluding to, the bank may choose to close your account but there isn't any way you can be in trouble with the courts. The banks aren't likely to close your account either because you're generating a lot of extra fee revenue for them.

Good luck