do the bank pay the difference if you are short $10.00 out of you bank account ? .?

Question

i had 138.00 bill i wrote a check and was short 10.00 the bank charge my 30.00 ? do i still owe?

Answer 1

This is called over draft protection that the bank pays for. Yes, they charge that much to pay a bill if you are over drawn. However, you can use this overdraft to your advantage too. Say, your over draft was 500 limit. If you really needed the entire 500 until pay day.. they'll only charge you 30 dollars as well. So, it's a give and take. Try not to use it, you'll get into trouble if you start.

Answer 2

Usually, you have to pay the bank the difference plus the $30 fee. You probably owe $40. Even if you have overdraft protection, you would still owe $40.

What is also very possible is that you owe the bank $30 and the check was returned to the person you gave it to. That person can turn the check to a collection agency and you will owe the $138 plus another $25-$30 for their fees as well. Writing bad checks can become a very expensive hobby.

Answer 3

a bank card is simply a debit card. you use the funds available in your bank to make any purchases, once the money runs out you can not continue to make purchases. a credit card is actual credit a company gives you which you can use any where they accept visa, mastercard, discover and american express, how ever a credit card has a limit, its up to the company to provide you with a limit for example if you have a $500 limit then you can only use up to $500, a debit card is the same as a bank card but there is also another type of card called a prepaid credit card and these cards you apply the money yourself into the account, these are most likely used for younger kids who dont have a bank account and need to make a purchase which requires a credit card reason being is because if you did have a bank account you would just use your bank debit card for the purchase, there are also secured credit cards and these cards work like credit cards but you apply the money into the account and use it like a credit card but on your credit report it'll show that you have a credit card open and most people who have bad credit or a hard time getting approved for credit cards use these. i hope i answered your questions.

Answer 4

of course you owe. If that check was paid, then the bank loaned you the $10 for that bill. Consider the $30 a thank you to the bank for not returning your check!

Answer 5

Yes, you still owe the money. The check may bounce, meaning your bank may or may not give that money to the person you wrote the check to. The bank also charge you an NSF (not sufficient funds) fee, so you owe that money to the bank as well - if you don't pay it, they may send the bill to collections, who will harass you until you pay it.

Get money into your account pronto, and learn your lesson - not managing your money COSTS you money!

Answer 6

Unless you have overdraft protection the transaction will be returned and you will be charged a NSF fee.