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  #1  
Old 09-04-2009, 06:23 PM
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Those bank overdraft fee!

Dang! Got nailed with two!

Recently opened a free checking account for petty spending, gas, Ebay stuff, and other online spending. It feels good not using my credit cards for these things. I don't have much in this account and so I try to watch how much I spend. Well, I thought I had enough cash reserve to order some things online not too long ago since I had made a recent deposit ($85), but today I made a $400 deposit and wham-o! That's when I learned I got two overdraft fees at $33 each! I'm a bit disappointed with myself. I think it was the gas and small stuff at the grocery store that pecked away at my account, and with an online purchase of almost $60 I was about $9 short. I wasn't aware of it and made an Ebay buy days later, so there're two ODs for ya.

GRRRRRRRRRRRRRRRRRRRRRRRRRR!
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  #2  
Old 09-04-2009, 06:44 PM
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ugh I hate those with a passion, I once miscalculated the days it would take for some stuff to pend and I got massively hit and beaten with NSF chargers. I was -275$ and one of the charges was for a 99 cent itunes song. Thankfully I knew someone at the bank and got all but one reversed.

It's so stupid, I was pissed they charged me 33$ for a 99 cent itunes song. I mean, god forbid they had to pay 99 cents.
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  #3  
Old 09-04-2009, 07:25 PM
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I have never bounced a check in the 30+ years I've had a checking account. I just don't write the check if the amount is larger than my balance. You can't "kite " checks anymore. Most places deduct the amount from your account when you make the purchase. That's why when I go to town to do my errands I make the bank my first stop!
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  #4  
Old 09-04-2009, 07:37 PM
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No, that's 20 ODs for YOU. You screwed up and you are not the govt so you don't get to play shell games. If you can tell us it is the bank error, fine. Otherwise, it is your own fault. Set up some sort of OD protection or something like that.
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  #5  
Old 09-04-2009, 07:39 PM
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Quote:
Originally Posted by JordaanDMC-12 View Post
I mean, god forbid they had to pay 99 cents.
God forbid you be asked to keep track of your finances better. Have I been hit by them? Yes. If it is my fault, I lump it and take it as a learning experience. If not, I raise hell with them.
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  #6  
Old 09-04-2009, 08:01 PM
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Originally Posted by aklim View Post
God forbid you be asked to keep track of your finances better. Have I been hit by them? Yes. If it is my fault, I lump it and take it as a learning experience. If not, I raise hell with them.
Well just as the statement I got in the mail said "Accidents happen, we understand" and that's what that was, an accident. I think 33$ is a little high for a 99 cent charge that they had to pay... I miscalculated when the song was going to pend, I just totally didn't forget about it and go crazy buying stuff...

Are you an undercover agent working for Chase? I CAUGHT YOU!!!! SURRENDER!! LOL
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  #7  
Old 09-04-2009, 08:17 PM
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what gets me is if say i make a deposit it might take a day or two to post to my account.BUT when they take it out it is instantaniously.which is total BS.if they can take it out when say i buy stuff at wal-fart.why does it take an extra day to post to my account if it's after 10 a.m.???
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  #8  
Old 09-04-2009, 08:25 PM
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Quote:
Originally Posted by JordaanDMC-12 View Post
I think 33$ is a little high for a 99 cent charge that they had to pay... I miscalculated when the song was going to pend, I just totally didn't forget about it and go crazy buying stuff...

Are you an undercover agent working for Chase? I CAUGHT YOU!!!! SURRENDER!! LOL
Yes, I can see that it is a stiff penalty and I too have been hit by it. However, since I know what happens, much like my customers know what happens when they default, who have I (and the bad customers) to blame?

I have sent bad customers over to Chase bank because I don't like them. The only thing I like about them is the slogan they used to have. "Chase! Where the right relationship is everything".
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  #9  
Old 09-04-2009, 08:27 PM
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Quote:
Originally Posted by catmandoo62 View Post
what gets me is if say i make a deposit it might take a day or two to post to my account.BUT when they take it out it is instantaniously.which is total BS.if they can take it out when say i buy stuff at wal-fart.why does it take an extra day to post to my account if it's after 10 a.m.???
Depends on what you are depositing. If it is checks or via an ATM, how are they to know whether you really had a check there or just an empty envelope? Further to that, how do they know if the check you just deposited will clear?

When I transfer funds between savings and checking, it is instantaneous. Same as with cash deposits at the teller.
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  #10  
Old 09-04-2009, 08:36 PM
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Hmm my bank won't let me withdraw funds if I have insufficent funds.

If I write a check that's another story. I'm not sure I enabled the overdraft credit protection. Better check on that.
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  #11  
Old 09-04-2009, 08:44 PM
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Originally Posted by okyoureabeast View Post
Hmm my bank won't let me withdraw funds if I have insufficent funds.

If I write a check that's another story. I'm not sure I enabled the overdraft credit protection. Better check on that.
That they won't if you are at the teller.

I would enable it.
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  #12  
Old 09-04-2009, 09:38 PM
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Quote:
Originally Posted by catmandoo62 View Post
what gets me is if say i make a deposit it might take a day or two to post to my account.BUT when they take it out it is instantaniously.which is total BS.if they can take it out when say i buy stuff at wal-fart.why does it take an extra day to post to my account if it's after 10 a.m.???
My brother's worked in banks that have holding deposits longer than clearing debits as policy.
Fees (all kinds of) are a bigger income source for banks than interest on loans. They'll catchya if they can.
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  #13  
Old 09-04-2009, 10:14 PM
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Quote:
Originally Posted by tankdriver View Post
My brother's worked in banks that have holding deposits longer than clearing debits as policy.
Fees (all kinds of) are a bigger income source for banks than interest on loans. They'll catchya if they can.
And they are making all the hay they can before the new reg's hit, the good news is they will no longer be able to charge the fee's they are, the bad news is bounce protection will be gone since the risk will not be worth the reward.
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