Overdraft fee aandd I'm broke!

[Dalton801]

So I bought two shirts to help my girlfriends brother possibly win a prize, but I didn't have the money at the time to afford two shirts.. Luckily the page said that I won't be charged till he reached the 10 shirt goal. So I thought that would be enough time till I got payed but it wasn't.. I was -32 bucks, then the overdraft fee came and now I'm -66 bucks. My question is, is it possible for the bank to overdraft me again because the previous overdraft put me even more into the negative?

 

[VapedCrusader]

lol.. it depends on your bank.. sometimes they will keep charging your fees until you are no longer in the red.. others don't - probably best to call your bank and find out what their policy is..

 

[cherrycakes]

Call your bank.
I was sent a free thirty day trial for amazon prime.

They ended up charging me $100 leaving me with a negative balance I called Amazon to have them reverse the charge but somehow Wells Fargo charged me a $35 overdraft fee anyway. I was able to call and had the $35 fee reversed

 

[Dalton801]

lol.. it depends on your bank.. sometimes they will keep charging your fees until you are no longer in the red.. others don't - probably best to call your bank and find out what their policy is..

Call your bank.
I was sent a free thirty day trial for amazon prime.

They ended up charging me $100 leaving me with a negative balance I called Amazon to have them reverse the charge but somehow Wells Fargo charged me a $35 overdraft fee anyway. I was able to call and had the $35 fee reversed

Thanks for the help guys! I'll give them a call and hopefully they'll let me slide till I get payed.

 

[Cloudy Peak Vapes]

I'd also recommend going in, and or calling. If you've never overdrawn before, there's a good chance they'll just wave it if you get the money in. Worth a try.

 

[UncleRJ]

Call your bank.
I was sent a free thirty day trial for amazon prime.

They ended up charging me $100 leaving me with a negative balance I called Amazon to have them reverse the charge but somehow Wells Fargo charged me a $35 overdraft fee anyway. I was able to call and had the $35 fee reversed

Thanks for the heads up.

Just got the Amazon offer today.

Not gonna touch it!

 

[kelli]

So I bought two shirts to help my girlfriends brother possibly win a prize, but I didn't have the money at the time to afford two shirts.. Luckily the page said that I won't be charged till he reached the 10 shirt goal. So I thought that would be enough time till I got payed but it wasn't.. I was -32 bucks, then the overdraft fee came and now I'm -66 bucks. My question is, is it possible for the bank to overdraft me again because the previous overdraft put me even more into the negative?

that is why i loathe banks....predatory assmonkeys. basically, they charged you over $30 on a $32 loan, which is like 100% interest. and it cost them nothing. should be criminal.

 

[UncleRJ]

that is why i loathe banks....predatory assmonkeys. basically, they charged you over $30 on a $32 loan, which is like 100% interest. and it cost them nothing. should be criminal.

Love your fangs!

 

[kelli]

Love your fangs!

the better to munch on you with, my dear.

 

[UncleRJ]

the better to munch on you with, my dear.

So I can assume you really like the taste of old men that drink cheap beer and eat Braunschweiger and Onion sandwiches on rye bread and only bath on their birthdays?

And I happen to have been born on a leap year!

 

[kelli]

So I can assume you really like the taste of old men that drink cheap beer and eat Braunschweiger and Onion sandwiches on rye bread and only bath on their birthdays?

And I happen to have been born on a leap year!

i will overlook some things.

 

[UncleRJ]

i will overlook some things.

BOOGER !

 

[Peridox]

Ok...here is where the trick comes in...when you really break down the cost of a "check" you can understand some of this. Basically in a company setting just to cut a check, add it into your computer system, cut the check (paper, ink and wear and tear on the machine), stuff the check (cost of envelope), postage (cost of postage machine wear and tear), so on and so forth when you are all said and done that check can cost just to write it (due to the accounting dept's wages included) you've put in about $20. Believe it or not, I had to find this out once because I called BS when I was told at work LOL. So now you think about the NSF charges...in all reality if you write a check to me, and it bouces...I am hit with an NSF charge on my bank account, have to have my accounting department back it off my books and I have to dork around with the situation, why should I have to pay for that? You're the one that gave me the bad check so BOOM NSF fee from me (company to you) Now your bank has just gone through all of these steps as well...should they have to pay for your math error? Nope...so BOOM NSF fee from the bank to you. If your bank is cool they will give you an overage protection, which is the bank will cover the fees for the overage to the company (me) and save you from the $25-30 NSF from me...but then only charge you one from the bank that can be anywhere from $6-35ish dollars...now you may think they are poo poo heads for charging you $35 for a $5 overage but...they are saving you from the additional charge from me (the merchant) which i have the right to charge you. Its not that they are making a fortune on this its because time IS money and the time that these applications and back outs of checks takes time for all the steps and someone has to pay for that. Why should it be the merchant or the bank? Neither would be in business if they let them out of it because for the most part most of the time it just covers admin/equipment fees due to that slight oversight on your part. Free advice...talk to your bank about the overage protection or see if you can put money in your savings account and have them just charge you a transfer fee (anywhere from $0-20 per transaction mine is $4) and pull from that fund if you overdraft in the future.

BTW I hope you understand I'm not being preachy about this its just I have had to explain it a lot when I worked in collections lol

 

[Giraut]

that is why i loathe banks....predatory assmonkeys. basically, they charged you over $30 on a $32 loan, which is like 100% interest. and it cost them nothing. should be criminal.

Yes. Banks are predatory. They're a bunch of sumbitches who create poverty and misery the word over.

This said, my Dad always told me: don't spend the money you don't have.
Blame's on the OP: he put his head in the crocodile's jaws, and now he blames the crocodile for biting...

 

[kelli]

Ok...here is where the trick comes in...when you really break down the cost of a "check" you can understand some of this. Basically in a company setting just to cut a check, add it into your computer system, cut the check (paper, ink and wear and tear on the machine), stuff the check (cost of envelope), postage (cost of postage machine wear and tear), so on and so forth when you are all said and done that check can cost just to write it (due to the accounting dept's wages included) you've put in about $20. Believe it or not, I had to find this out once because I called BS when I was told at work LOL. So now you think about the NSF charges...in all reality if you write a check to me, and it bouces...I am hit with an NSF charge on my bank account, have to have my accounting department back it off my books and I have to dork around with the situation, why should I have to pay for that? You're the one that gave me the bad check so BOOM NSF fee from me (company to you) Now your bank has just gone through all of these steps as well...should they have to pay for your math error? Nope...so BOOM NSF fee from the bank to you. If your bank is cool they will give you an overage protection, which is the bank will cover the fees for the overage to the company (me) and save you from the $25-30 NSF from me...but then only charge you one from the bank that can be anywhere from $6-35ish dollars...now you may think they are poo poo heads for charging you $35 for a $5 overage but...they are saving you from the additional charge from me (the merchant) which i have the right to charge you. Its not that they are making a fortune on this its because time IS money and the time that these applications and back outs of checks takes time for all the steps and someone has to pay for that. Why should it be the merchant or the bank? Neither would be in business if they let them out of it because for the most part most of the time it just covers admin/equipment fees due to that slight oversight on your part. Free advice...talk to your bank about the overage protection or see if you can put money in your savings account and have them just charge you a transfer fee (anywhere from $0-20 per transaction mine is $4) and pull from that fund if you overdraft in the future.

BTW I hope you understand I'm not being preachy about this its just I have had to explain it a lot when I worked in collections lol

i don't dispute what you said above, but the fact remains that banks make tens of billions of dollars on overdraft charges. this year alone, it is estimated to be $35 billion. one article i read said that the average cost to the bank on a $30 overdraft fee is $5. That's a pretty good profit. i understand that the fee is supposed to be a deterrent, but it's still a cash cow for the banks.
one time i unknowingly bounced 4 checks for a total amount of $87. I was charged $128 in overdraft fees. The next day was payday, so i had the money back in there. so in essence, they charged me $128 to "loan" me $87 for one day. that hurts.

 

[Midniteoyl]

My bank is pretty cool.. They show pending charges and sent me a text and email if when they finally balance the account I will end up negative.. I then have until 4pm the NEXT DAY to get the money in to cover the short fall.

Also, my bank, and most banks, have a line of credit that you can apply for, anywhere from $300 to $1000, that they use to cover any overdrafts. Basically, my bank will give you a $1000 credit and use that in $30 increments to cover the overdraft. Re-payment is $30 a month per $100 used @ whatever APR or fees your bank charges.. So, say I overdraft by $67.. They will credit me $90 minus the minimum APR fee of $1 per month to cover it - so $87, with no overdraft fee, and then pull $30 a month for 3 months to pay it back.

Something to check out..