available balance in bank account?

Question

ok my available balance is -$20.00 because of something that went through, but my current balance is about 500. Can I put money in and stop the late fees at my bank because the actual current balance is not negative? also it was only one charge that made me go over so will I only be charged one late fee?

Answer 1

You're going to have to deal wtih two separate types of charages 1.) check payment fee and 2.) negative balance fee. Your bank might not charge one or the other, but if you have free checking you can expect that they do. Let's say you had a bill due on auto-pay that was 100, but you only had 80 in the bank. They would pay the bill (the "check payment fee") in order to save you from having it bounce. This would then put you at a negative balance, which in itslef might have fees. Long story short, call them RIGHT NOW and talk to them. Usually they will remove one or both charges for a first offense if you just give them a call.

Answer 2

I'm a little confused. Is your current balance $500 because you deposited a check that's on hold?


To prevent overdraft fees, you can try to deposit cash into your account. But the bank will process checks and debit card transactions by the largest amount first. Supposedly they do this because the bigger checks are likely to be more important.

So you are likely to get several overdraft fees.

Answer 3

If you get the money in to cover it (cash or a drawn on that bank check) you will not have a overdraft fee. Your avaliable balance is $500 because you probably have ODP - overdraft protection. That is in case you made a payment to someone via check or cc, and didn't have the funds, it will still get paid to that person/store with out them thinking you have insufficent funds. But that money is only for that purpose and will still incurr od fees, unless, like I said you can get money in the same day it happens.

Answer 4

Different banks have different rules, however, it's likely you will be charged the one late fee for sure. If you don't have funds available to cover the late fee, you could be charged another one too.

Answer 5

Making a cash deposit might stop the fees.

When you deposit a check the bank credits your account. However, your "available balance" does not increase until the bank collects the money from the bank that the check was written against.

Answer 6

Yes on both if you do it right away , but no on the late fees because if one fee sets off another then you could be in trouble very fast / Most banks will work with you , even waiving fees if you talk to them as soon as possible.

Good Luck

Answer 7

Banks will rip you off for one second of time for a late fee.
Since you haven't got a lot anyway change to a building society that doesn't charge as many fees.

Answer 8

Put some money in right away and possibly the bank will have mercy. Ours does sometimes....