2007-05-17 03:00:48 · 27 answers · asked by drees1971 2 in Business & Finance ➔ Personal Finance
i was at work at the time, couldn't contact or physically get to my bank, no info about my query on my bank's website, and thought this method would be quicker!
2007-05-18 01:46:39 · update #1
it depends how much overdrawn you go.. I went under by £6 and as soon as I noticed I transferred money from my other account into the overdrawn one. I phoned the bank to ask if they were going to charge me £30 and she said I wouldn't be charged at all because it was under £10 and was paid back on the same day
2007-05-17 10:20:02 · answer #1 · answered by Diablo 3 · 0⤊ 0⤋
Depends on the bank. Some banks charge a fee for each time you go into overdraft, while others will charge you a flat monthly fee and not charge you per occurance. Some will give you the option of which of these methods best works for you. There should not be an interest cost if it is covered the same day, as interest is calculated on the day-ending balance. Call their 1-800 customer service line because the answer will depend on where you bank.
2007-05-17 10:11:17 · answer #2 · answered by dan m 2 · 0⤊ 0⤋
Depends on the bank, I think, but if you get it in there early enough they will probably put in all your credits first, then take out charges and you won't get overdrawn. That's if your bank is nice. lol
2007-05-17 11:32:27 · answer #3 · answered by ? 6 · 0⤊ 0⤋
Yes. The overdrawn is always first. You would have to speak to the bank manager in order to see if they would drop the OD charge.
2007-05-17 10:08:25 · answer #4 · answered by Big Bear 7 · 0⤊ 0⤋
Probably. Banks are not 'not for profit' orgs..However, most will remove the charge if you ask them to--especially in this circumstance. Part of the issue is business gets by with what it can get by with...don't let them. People fire banks all the time for things like this! Hope this helps.
2007-05-17 10:05:11 · answer #5 · answered by sweetjami 2 · 0⤊ 0⤋
Depends on the bank. If you overdraft first and then deposit money, technically they can charge you, but you will most likely be able to get out of it. Most banks process debits before credits on any given day just to screw people over...so if you can, go to the bank and deposit money first.
2007-05-17 10:05:13 · answer #6 · answered by Double A 4 · 0⤊ 0⤋
The majority of the UK banks will calculate whether you are overdrawn at the close of business.
Therefore as long as you are in credit by 3.00pm or 4.00pm (depending on your bank) then you will be fine. (HSBC and Barclays defiantly operate like this).
However, it is still worth checking with your bank directly.
2007-05-18 08:36:01 · answer #7 · answered by James S 1 · 0⤊ 0⤋
Most banks do credits first on things like transfers but they are done at the start of the working day -so if you are OD at 8am and then put some cash in at 11am then you will have been charged.
2007-05-17 10:04:41 · answer #8 · answered by Anonymous · 0⤊ 1⤋
At my bank as long as I get the funds in before 2:00 pm it always covers the overage.
2007-05-17 10:03:26 · answer #9 · answered by Anonymous · 0⤊ 0⤋
Depends on the bank.
2007-05-17 10:08:06 · answer #10 · answered by E S 2 · 0⤊ 0⤋