Question about banks and overdrafts

[Drikkink]

I've got a deposit that will become available on Monday, but I may need to overdraw my account this weekend for some bills and other things. My bank allows you to cover overdrafts on the same BUSINESS DAY of the transaction and they say they don't post electronic transactions on weekends, so should I be okay if I overdraw?

[Natrii]

the bills should not hit your account til monday. Now the other things my overdraft you. Those fees stack up fast, so best not to risk it if you can avoid it.

This is just from my experience, your bank may differ.

[vindicatorx]

I would call my bank and ask them. No one can answer here for sure seeing we don't know your banks actual policy.

[Drikkink]

I'm at Citizen's Bank and the policy on my account says "$35 fee for each overdraft, max 7 a day. MAY approve use of pending deposits for payment. Overdrafts covered same business day will not incur the fee"

[OzoAndIndi]

I'm at Citizen's Bank and the policy on my account says "$35 fee for each overdraft, max 7 a day. MAY approve use of pending deposits for payment. Overdrafts covered same business day will not incur the fee"

If your account already says it's pending, then maybe, though personally I wouldn't trust it, not with the size overdraft fees are at most banks. I'd talk to them first if you can get a hold of customer service during a weekend. If it would charge but you need to take the money out either way, might not hurt to ask if something could be done about a possible overdraft.

[Deleted]

you pay flat out 35$ for overdraft? what is this madness?
My bank (a german bank) only charges 11.55% anually (and only for the time it's actually used)

(though atm I may not overdraft my account and they charge 5.50€ for each overdraft attemp, even those I have no control over <.<)

[drwelfare]

you pay flat out 35$ for overdraft? what is this madness?
My bank (a german bank) only charges 11.55% anually (and only for the time it's actually used)

(though atm I may not overdraft my account and they charge 5.50€ for each overdraft attemp, even those I have no control over <.<)

I have had people write my business bad checks. The bank charges them $35 for it, my bank charges me $5 and the money is taken back out of my account. So I have to hound the person to get paid, or go to their bank to check for available funds and when I catch money in there pay another $5 for a certified funds check.

Thats why most businesses charge another $25-35 for a bad check.

[torment3d]

You are better off calling the companies the bills are with and telling them you will be paying on Monday. There is a 99% chance they will not do anything to you, and there is a BIG chance the bank will fuck you. I've been charged insane shit by Citizens Bank (just naming because someone mentioned working for them) for things that should have been covered under that same business day rule... in fact it was a similar situation as you and I got 4 fees in one day, then I put the money in the bank and got charged for 4 more days somehow and it took me hours and hours on the phone going up the chain of command to getting it reduced back down to only one day's worth of charges. I've paid many bills late... They're very lenient. Even to the point where they sometimes have policies that bills can be 3 days late with no penalty. If you cannot pay and you give them advance notice, most of them will be perfectly fine with it and warn you not to abuse the privilege.

[God8010]

You need a phone and a good story. Even if you can't turn the bank, in a call I've made cable bills vanish, cut electrical bills in half and bought more time than I ever needed. It's a lose lose for all sides when someone can't pay, a little talk about the two days you need keeps everyone feeling respected and looking for ways to protect the investment.

Any step towards progress is a conversation with someone you owe or use. Keeping it to yourself just ensures the worst.

[torment3d]

you pay flat out 35$ for overdraft? what is this madness?
My bank (a german bank) only charges 11.55% anually (and only for the time it's actually used)

(though atm I may not overdraft my account and they charge 5.50€ for each overdraft attemp, even those I have no control over <.<)

In the USA it's the standard procedure. The only way around it is to open a line of credit on your checking account that will cover you for up to the credit limit in the event of overdraft. My credit never got good enough to do that, but my mom had a $5,000 credit line on her Citizen's checking account and I used to have to get her to abuse it all the time for my sake when I was living paycheck to paycheck!

- - - Updated - - -

You need a phone and a good story. Even if you can't turn the bank, in a call I've made cable bills vanish, cut electrical bills in half and bought more time than I ever needed. It's a lose lose for all sides when someone can't pay, a little talk about the two days you need keeps everyone feeling respected and looking for ways to protect the investment.

Any step towards progress is a conversation with someone you owe or use. Keeping it to yourself just ensures the worst.

This was my point and please take our advice regardless of how many people might tell you to risk the overdrafts. I went through a really tough time and racked up huge bills at one point. Companies literally beg you to pay the bills. I've had $1,000 debts reduced to $100 just because the company was so desperate to get paid SOMETHING at SOME POINT.

[Deleted]

Call your bank.

If you do something incorrectly and try to prove yourself, using something someone said on MMO champ is hardly going to be in your favour. I really can't believe someone would ask such a question here.

Jesus christ..

[lockedout]

Call your bank.

If you do something incorrectly and try to prove yourself, using something someone said on MMO champ is hardly going to be in your favour. I really can't believe someone would ask such a question here.

Jesus christ..

Don't listen to this guy OP he uses to much logic.
Just take advice from a gaming forum, I mean what could go wrong?