Over Draft sucks!

LoyalistRevolt · Post by **LoyalistRevolt** » Fri Apr 25, 2008 5:23 pm

My god I went into over draft at my bank and know I owe a hundred bucks...I can't tell my mom cuz she is already mad at me I'm to afraid to tell my dad...I think I'm going to sell anything valuable to me so I can get out of this does anyone have any advice?

tom61 · Post by **tom61** » Fri Apr 25, 2008 5:41 pm

Tell your parents. Mad parents are better than a recurring fee charged each day or two.

Overdraft privilege sucks, try to get switched to overdraft protection if your bank will let you.

Of course, as you're going to get lectured by your parents, keep better track of your account. Also, be wary of the times that items clear. A check deposited does not clear instantly, but a check you write that is processed electronically will go through immediately.

soundwave · Post by **soundwave** » Fri Apr 25, 2008 5:42 pm

Live and learn. I've lost too much to overdrafts, it'd make some people cry.
Lost 100 dollars because my friend neglected cancelling his WoW subscription I put on my card. Two months with a 35 dollar overdraft charge each time.
Mismanaging funds, going out and making 2-3 purchases, checking online a few days later they were all overdrafts, at 20 dollars each.
The list goes on, atleast I've learned.

HBN · Post by **HBN** » Fri Apr 25, 2008 5:42 pm

My advice would be to swallow your fear.

HotDog-Cart · Post by **HotDog-Cart** » Fri Apr 25, 2008 5:53 pm

Return what ever you bought.

project_failure · Post by **project_failure** » Fri Apr 25, 2008 5:56 pm

I have some advice. Hurry.

soundwave · Post by **soundwave** » Fri Apr 25, 2008 5:59 pm

HotDog-Cart wrote:Return what ever you bought.

It doesn't work that way. Banks protect overdrafts with their lives.

Post by **Sparkfist** » Fri Apr 25, 2008 6:24 pm

After you get the issue right now resolved, of which I suggest swallowing your pride and taking the beating from your parents, talk to the people at your bank about over draft protection.

The credit union I go to has it setup where i can get a loan that goes as much as $700 should I need it during over draft. As a result I don't see the horrible $25 fee, and I can pay the loan back slowly over time as it's a low interest one.

Neildo_64 · Post by **Neildo_64** » Fri Apr 25, 2008 6:48 pm

I owed over $100 one time because I bought a candy bar, a bottle of pop, and a couple other things - all seperate but the same day. I mis figured my check book and each item cost me $30 for an overdraft fee. I don't use that bank anymore. lol. Overdraft fees at my current bank are only $7, but I have yet to overdraw my account. w00t.

There is nothing you can do but pay them. You don't have to hurry SUPER quick, but tell the bank you are working on it and they will give you some time to make it in payments or whatever. However, they WILL get their money. Stupid financial bull****.

Rekarp · Post by **Rekarp** » Fri Apr 25, 2008 7:28 pm

$100? dam Wells Fargo only hits me for $30 on overdraft.

Kurt_ · Post by **Kurt_** » Fri Apr 25, 2008 7:38 pm

Nobody else uses cash? I have 2 debit cards and use neither. I pay only with cash (except online purchases, which are few). First off, it feels good to know that you have that amount of money on you. Cuts down on worrying how much you still have in your account, especially since I transfer nearly all of my funds into a savings account, and have very little in at one time. Also, it adds some good old-fashioned HUMAN INTERACTION back in to the equation of today's fast-paced, electronic society.

Dr. KillGood · Post by **Dr. KillGood** » Fri Apr 25, 2008 8:10 pm

At my bank when you get overdraft, I had it 2 times, they just take the money out of your savings account.

I dunno if it is for the first few times you do it or not tho.

Post by **bicostp** » Fri Apr 25, 2008 8:27 pm

Kurt_ wrote:Nobody else uses cash?

I do. Cash is awesome! You always know how much you have, and you don't pay to spend it. Transactions are instant, it's good anywhere, it can't be copied with an RFID scanner, and it's not tied to you in any way. I am proud to say I am 20 years old and I don't have a debit or credit card. (Even though since I got student loans, CapitalOne has sent me my weight in credit card offers.

)

As for your situation, LoyalistRevolt, I'm afraid the only advice I have is to pay the fees (talk to your parents if you have to; the lecture is important), and keep better track of your finances in the future.

Post by **Triton** » Fri Apr 25, 2008 8:29 pm

my bank scared the crap out of me the other day, i have overdraft protection but on the bank statements i see tons of 25$ (and 25$ incriment) POSV Transfer for Overdraft somethingorother. fortunatly that just means that when i use my debit card and there is insufficient funds in checking it transfers money in 25$ incriments to checking from savings. if it didnt i would be looking at several hundred dollars in overdraft fees!

Post by **SpongeBuell** » Fri Apr 25, 2008 9:49 pm

Trust me, it never hurts to try calling the 800 number on the back of your card. Calmly explain that it was a mistake, and that you're normally better about keeping track of your account. Don't get upset about it or anything... keep in mind, the people you're talking to are people too, and go on the defensive if you go on the offensive. I had one $34 overdraft from Wells Fargo a while ago, they were willing to take it off. Then, somehow, I had 3 of them a few weeks ago. They wiped that, too, when I explained how it was a mistake from a misunderstanding.