STYLETHREAD -- LET'S TALK SHOP!

BargainQueen · Marc Jacobs

I overdrew my account - Vent

Tati · Chanel

yup, I'm sure its happend to a lot of us, I know its happend to me for sure! Good thing you get paid tomorrow!

Maddie · Coach

Eee that sucks. This always happens to me when I'm on vacation. When I came back from Ireland I was -$300. That was real bad.

JoceyBaby23 · Gucci

It has happened to me many times.. Sometimes those little fees and charges really add up and I just lose track!

Now you have to be extra good for the rest of the month. (I hate putting those restrictions on myself!)

kenzie · Chanel

This happened to me when my old company failed to issue paychecks in a timely manner. I have automatic withdrawal set up on my account for bills and such and I expect to have my paycheck in there when it's supposed to be in there. Well, on three separate ocassions, the company messed this up and I was overdrawn.

Thankfully, the bank refunded all of my overdraft fees b/c it wasn't my fault.

-- Edited by NylaBelle at 16:44, 2005-09-15

laken1 · Hermes

Don't feel bad, I did this & worked at the bank - every officer, including our CEO got an overdraft report every morning. And I was on it. So embarassing.

Then I made EXTRA sure it never happened again.

-- Edited by laken1 at 16:57, 2005-09-15

kenzie · Chanel

laken1 wrote:

Don't feel bad, I did this & worked at the bank - every officer, including our CEO got an overdraft report every morning. And I was on it. So embarassing. Then I made EXTRA sure it never happened again. -- Edited by laken1 at 16:57, 2005-09-15

On a side, note, when I had the issue with my company and the paychecks, I had given my bf a check the day I was supposed to be paid. He cashed it and fortunately, it took long enough for the check to clear that it didn't bounce. But he freaked out at me and told me that he would lose his job if he overdrew his account or bounced a check. He works for a bank. Is this actually the case or was he just full of crap?

laken1 · Hermes

NylaBelle wrote:

laken1 wrote:
Don't feel bad, I did this & worked at the bank - every officer, including our CEO got an overdraft report every morning. And I was on it. So embarassing. Then I made EXTRA sure it never happened again. -- Edited by laken1 at 16:57, 2005-09-15
On a side, note, when I had the issue with my company and the paychecks, I had given my bf a check the day I was supposed to be paid. He cashed it and fortunately, it took long enough for the check to clear that it didn't bounce. But he freaked out at me and told me that he would lose his job if he overdrew his account or bounced a check. He works for a bank. Is this actually the case or was he just full of crap?

I think it is different everywhere, i don't think i would have gotten fired, but they told me if i didn't have it cleared up by 10 am that i would have an issue. Plus i think it's a federal regulation or something that they MUST return it - most banks (i know as a loan officer i did) have discretion on whether or not to pay the checks for customers, but as an employee they couldn't cover them for me even though it was only like $60 because of federal rules - As an example of comparison i had covered checks for customers up to $20,000.

halleybird · Hermes

That happens to me all the time, because my husband does our banking, and he likes to keep only the amount to pay the bills in checking. Drives me nuts because it is embarrassing. I usually just say, "oh, sometimes the magnetic strip doesn't work." LOL.

honey · Gucci

it happens to the best of us. last week it happened to me i was a penny off, and it totally screwed up my account. i'm not sure if you do this already, but i highly recommend writing down everytime you use your debit card. it sounds really simple, but it helps so much. that way you always know exactly what's in there and what's pending.

fashionista L · Coach

Oh my god, I swear I CAN'T BALANCE MY CHECKBOOK FOR THE LIFE OF ME!! I constantly overdraft my account and it is such a waste of money!! I feel your pain!!

LexNVA · BCBG

Yep, I am one of those people that work for a bank and as soon as I started they told me that I have 3 times to od my account, which was a little scary to hear. But, then I talked to someone who had worked for the bank for a few years and he claimed it wasn't true but, they scared me enough that I will TRY my best to never ever have an od again. But, I also recommend overdraft protection or cash reserve, a lot of banks will actuallly tie this to your savings, or they will have you apply for a line of credit which is like a line of credit but is only used when the od occurs. And in the end these come out a lot cheaper

kenzie · Chanel

Another way to avoid this problem is to link your checking account directly to a savings account with your bank. That way they will pull from there if you overdraw your checking.

Also, if you have online banking, use it! I check my account at least twice a day online and the only times I've overdrawn my account were the ones when my paycheck arrived two days late and I had already set up an automatic withdrawal. Online banking is a godsend. I always know exactly what's going on in my account and it keeps me from overdrawing.

laken1, I guess that's my bf's bank's policy. He's a commercial loan officer, but at the time he was a branch manager, but I suppose it doesn't really make a difference what position he's in. But he's really good with money (to the point of being a Scrooge), so I'm pretty sure he's never overdrawn his account in his life.

KaffeeKlatsch · Marc Jacobs

Man this has me written all over it...I do this like once a month...

I've gotten better lately, maybe down to once every two months...but still...

When my estranged husband still lived with us I used to say we were paying the bank better than we ourselves get paid...

And an additional note...I HATE MY BANK....5/3 Bank charges $60 for every overdraft and $6 each day, so the very first day I overdraft they charge $66 and even if I put in enough to cover it, they charge the next day $6 because they process all the withdrawals first and then the deposits. Any one know of a decent bank in Ohio???

BargainQueen · Marc Jacobs

Thanks guys, you made me feel so much better. I'm glad I'm not the only one this happens to. Around here everyone pretends it has never happened to them and I feel like such a loser.

I really need to start writing things down right away, because I forget. But I'm still sad I spent my shopping $ for this weekend on ovedraft fees. Lesson learned.

NCshopper · Hermes

When I was in college, I overdrew my bank account all the time. I had a $500 overdraft protectioin. Well, when I'd overdraw my account, the bank would just put $100 in my account and take $100 out of my overdraft protection. Somehow I didn't quite "get it" that I had to pay the bank back until one day I found out I owed the bank $500, had no money in my account, and I still had a sorority dues check that hadn't been cashed and a check out for a hotel that hadn't been cashed either. That was not a fun call home to my parents...

I learned my lesson. Every now and then I overdraw my bank account, but it's usually by a few bucks. But now I know I have to pay them back. Duh!

Cortney1982 · Chanel

Oh this happened to me once a few years ago. I totally forgot about my insurance payment which comes automatically out of my account. I recently did a lot of shopping and there wasn't enough to cover it. And guess what the bank did? They put in the insurance charge first, then about the 5 other places I spent money at so they could charge me the fee for every single one even when I made those purchases before the insurance was taken out! And to make matters worse, they were using eastern standard time when I'm pacific time and the damn bank wasn't open to put money in when they were racking up the fees! I was so mad having to pay over $100 in fees.

blubirde · Chanel

It happens to everyone - don't listen to those people who say it doesn't. They're just saving face. My checking is tied to my credit card so if I ever overdraft, it goes straight there like a credit charge. I've only done it a few times but it's convenient to know I'm completely screwed (and no fees!) if I do it.

esquiress · Marc Jacobs

BargainQueen wrote:

Thanks guys, you made me feel so much better. I'm glad I'm not the only one this happens to. Around here everyone pretends it has never happened to them and I feel like such a loser. I really need to start writing things down right away, because I forget. But I'm still sad I spent my shopping $ for this weekend on ovedraft fees. Lesson learned.

BQ, did you try calling the bank to see if they'll waive the fees? try calling and being super sweet and say this has never happened before, i'm so sorry, is there any way the fees could be waived as a one time courtesy? i've been a loyal customer to your bank for however many years, blah, blah.

that's what i did when i got my first od notice and it worked like a charm.

good luck!

Andrea Julia · Coach

My old bank would randomly take more than a week for a deposited check to clear. I would deposit my check from work (always from the same bank, from the same city) and most of the time it would clear within two days, but every few months, it would take a week or more. It would always catch me off guard and I would end up in trouble because I would send all my bill payments via online banking the day I deposited my check figuring it would be cleared by the time they deposited them. Also, instead of not letting any check card purchases that happened after I was overdrawn go through, they would put them through and charge me $30 for each.

When I would call them, they would tell me they have the right to do that. I was usually able to get them to overturn the charges, but it usually would take much freaking out. Normal reasoning would not work with that bank. It was PNC Bank by the way.

So, yeah, I have overdrawn many times.