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Realist | Question about overdraft fees on checking account? Please help answer? |
I was told that I didn't have enough money in my checking account by my bank, but before I knew this, I used my card to purchase things. I looked at my statment, and I spent 4 dollars on something, but since I didn't have any money in the account, they charged me 32 dollars for overdraft fees. I think thats ridiculous, and was wondering if theres any way I can get my money back from the overdraft fees? Also, I bought 3 other things that came out to $34.26, but with overdraft, they charged me $96.00.
Additional Details
My mother made the account for her and can't speak or understand english that well. Im sure they played with words to make her choose a regular account over the overdraft protection. If she never was asked what type she wanted, could I tell the bank to give me the money back., |
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Barkley Hound
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No. You can't get it back. Keep track of your money next time. Why not get overdraft protection? Then the only charge is a cash advance free from your credit card.
BTW: Most stores will also charge you for the bounced check since they have to pay their bank a fee. |
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rainydaydreamr
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First of all, your bank probably can get an interpretor for your mom. Citibank, for example has people on staff that speak several different languages, and uses a professional interpreting phone line when it is a language there isn't a staffer for. As far as the overdraft protection, I doubt they 'tricked' her. Overdraft protection is usually a line of credit that you have to apply for, and most banks would rather you have this than overdraw your account, which costs them money...look at it this way, if you don't have the money when your check or charge comes through, you are really asking the bank to loan you money. when you take out a loan, there are charges. why should the bank loan you money for free? you can ask the bank for a courtesy reversal and explain that you were confused by how the account works, but that will only work one time, if at all, since it is your responsibility to read the disclosures the bank gives you, so make sure you have the money next time. good luck |
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onestepbeyond
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ask them if the have an on line service. Sign up for it. Then you and your mom can see exactly what you spend each day if needed.
Of course it sucks but they did nothing wrong here.
The banks have a computer program that AUTOMATICALLY debits the money from the accounts after a transaction. If you can track this on line for your mother daily (about 2 mintues) then she will know how much money she has in her account everyday and adjust her spending accordingly. |
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Adirondack lady
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If you have never overdrawn your account before you should call your bank and ask them if they could refund the fees. However, it is your responsibility to know what you have in your account before you make a purchase. There is a lot of work done in the bank for every overdrawn check that comes in, therefore the need to charge overdraft fees. You could try a bumper - make a deposit into your account and don't record it in your register. That way when your book says you don't have any more money you really do and have room for an addition or subtraction mistake once in a while. |
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kissmymiddlefinger
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YOu can "TELL" the bank anything you want to but you wont get very far!
This is a sad situation but the bottom line is that it is YOUR MOTHER's fault.
PERIOD!
If the bank wouldn't allow your mother to open an account due to her 'poor english' you would be on here screaming about discrimination. You can't have it both ways.
WHY CANT SHE MANAGE HER CHECKING ACCOUNT is the real question!
English or not, 0 bucks in your account is universal.
If you dont like the overdraft fees you really only have FOUR options:
1. Pay cash for everything
2. Get overdraft protection
3. Keep money in your account and MANAGE your money
4. pay the fees.
IT is really that simple.
pick which option you (and your mom) like the best and go with it. This was a very cheap lesson actually. If she had written a check she would be paying another $75.00 to all the merchants that she wrote those checks too ($25.00 a piece in my state)
ZERO (no money is the same in english and spanish). i work in a bank and if you came in there with that 'tricked' allegation, the converstation would be pretty short. I would offer to close your account!
Bottom line is follow the rules or pick another one of your three options. ALL the major banks charge that fee and it is perfectly legal to do so.
NO sympathy from me here. People need to take responsibility for their own actions and it is a piss poor lesson that she is teaching you by failing to do so ! |
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mga1550
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My bank gives me $300 overdraft allowance-----but they still charge $32.00 for EVERY overdraft. When you go to a bank to set up an account ask them for a list of account fees. Most manks went up to $32.00 (and higher) last year sometime. But you cannot get your money back. Maybe you can beg them, if you are youngand you have a good account. But you did say that you had like 3 or four overdrafts so I doubt that they will give it back to you. |
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tonalc1
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lf this is the first time, you might be able to get the charges reversed. If you're a good customer, banks want to keep you, so they might be willing. |
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Mother
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If this is the first time that you have messed up and you have had your checking account more that 6 months. I would suggest that you go down to your bank and speak to one of the personal bankers. Explain the problem and ask for help. |
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Jason
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I'm not sure I understand what your claim would be with the bank, since you readily admit you were told you didn't have enough money in the account. When you said "before I knew this" you used the card anyway...what does that mean? Why didn't you know? It's not your bank's job to inform you on a minute by minute basis of how much is in your account...balancing your check book, or using their web site to check your balance will do that, though.
The bottom line is that the terms and conditions of your account undoubtedly had language and fees about overdrafting...and they're simply doing what they told you they were going to do...
So what's the problem here? |
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