What should I do the bank took my whole paycheck? Please help!!!!?

Question

I got my paycheck its not big because i dont work many hours because i go to school. My paycheck was 325 deposit i had an overdraft of 110 which i believe is wrong because when i went to pull out $ from the ATM it said i had $ money in their and when i called the bank. When my paycheck got in i called and it said i have $139.19. I dont think thats right 139.19 out 325. They said i had another overdraft from a company taking out my $ and i didnt know so i called and the company gave me back the refund which was was only 7.99 But what do i tell the bank they took out more than half of my money when they shouldnt have. Everytime I call the bank its says i have money even the reciepts from the ATM say i have $. I dont understand how could i have these overdrafts when my reciepts say i have $ and so did the bank. What do i tell them to get at least half of my $ back?

on the week of 12/17/07 my bank said i had 50 dollars in my bank i pulled out 20 then next day it said i had 30 i paid for gas 22 dollars 4 days later it said i had an overdraft?

I also made a $60 dollar deposit on 12/14/07 i dont understand what is happening to my money!

if they did take out 110 out of 325 why do i have 139?

Answer 1

Go sit down at the bank with one of the accountants and go through your ATM receipts and your checks and compare to their information.

I had this happen once because my husband accidentally added an extra $100 or $200 in our register that we didn't actually have in the bank. I was so confused as to what had happened that had me overdrawn. I knew, or I thought I knew that it was not due to my part, but small errors like miscalculating happen.

Could just be a simple error. Get with them and find the error together!

Answer 2

I think you are missing the overdraft fees your bank is charging.

Sometimes the bank doesnt take partial money from an overdraft, which is why you are getting overdrafts and still seeing money in your account.
Example: You write a check for $100. You have $50 in your account. The bank charges you an overdraft fee of $15. Now your account shows $35.

You are calculating something wrong. You need to carry a ledger with you and not use only the ATM to count on for deposits and withdrawls. Better yet, see if you can access you account online so you can SEE the status of the balance every day.

I bet that they took out the right amount, not "when they shouldnt have" like you think. So be polite and speak to a manager tomorrow and see if they will forgive some of the fees, and promise not to let it happen again. Also, you should open a small savings account with $100 in it, and tie it to your checking account so that if you do have a surprise miscalculation or unexpected withdrawl, they will take it out of the savings account and you wont be charged any overdraft fees.

Good Luck

Answer 3

Sorry but those numbers sound about right. Keep in mind that whenever you have an overdraft there will be fees tacked on, typically $20 or more per overdraft whether it's paid or not.

It sounds like you used a debit card for the gas and the other purchase. Whenever you use a debit card, especially at a gas pump, a hold of $50 to $75 is placed on the card pending the clearing of the transaction. This is standard practice and the only way to avoid it is to pay with a check or cash.

Keep in mind that ATMs will only show the balance in the account at the moment that you check it. It will NOT include any uncleared transactions. If you have uncleared checks or debit card transactions the ATM balance will often be higher than your true available balance.

It is YOUR responsibility to mange your money properly. Record ALL transactions in your check register INCLUDING debit card transactions. Before you use a debit card, ask the merchant what the "hold" amount is. If you don't have at least that much in your account, do NOT use the debit card!

Answer 4

Go to the bank (don't call, go in person) and ask them to explain all of the transactions on your account. (They'll probably charge a fee for giving you a statement)
Sit down with one of the personal bankers and have him explain the timing on each deposit, withdrawal, purchase, and fee. Make sure you understand. If this is your first checking account, explain that and have them help you.

Sign up for online banking and check your account daily so you know EXACTLY what is going in and out of your account and WHEN it is coming through your account. Checks can take a few days to hit your account so it may look like you have funds available when you have an outstanding check that hasn't been deducted yet.

Keep in mind that if several checks/transactions hit the bank on the same day, they will clear the largest ones first.
Example: You have $100 in your account and spend $15, $25, and $90. Instead of processing the $15 and $25 transactions and then charging you one overdraft for the $90 transaction that puts your account negative, they will clear the $90 transaction and charge you TWO overdraft fees for the $25 and $15 transactions.

Answer 5

Do you have a check register? Do you keep track of how much money you have in your account? You must do that or you will have no end of problems.

If you go to the ATM machine and it says you have $50, that does not reflect checks that have not cleared. If you wrote a check for $30 at the grocery store yesterday, that $30 is probably not deducted yet. You need to keep records, and they need to be accurate.

Answer 6

You need to pay more attention to your checkbook. Look at your last statement. Be sure all transactions on there are in your register. Be sure all checks are on your register, and mark them when they clear the bank. The unmarked ones are "outstanding". You deduct this amount from what the bank says you have so you can compare what your book says your balance is . Now look at transactions since your last statement. Make sure everything is in your book. After everything is in there, keep up on it.

Answer 7

Call and make a plea and ask if they will reverse it..Ask to speak to a supervisor if they refuse you.. good luck.... I would suggest putting your check card away for a while and next time when you get paid, take out cash and operate on cash only for a while until you get it under control. Otherwise, it will happen again..