I am so mad at myself- overdraft fee!!
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I am so mad at myself- overdraft fee!!
| Fri, 05-06-2005 - 9:50am |
I am soo stupid!!!! I wrote a check on 5/3 to DD's PTO for her yearbook and figured DH's check would cover it when it auto deposited on 5/5. I also figured some other checks hadn't gone through yet so it would be fine. DUH! Wrong!! When I checked our balance online the morning of his direct deposit, there was a -$5.14 for the day before. Although his check went through the very next day, I still got the $32 overdraft fee!! My own fault. Will this show on my credit report? I have only done it 1 other time years ago.
Do you think the PTO knows or did the bank just cash it and charge me?
Embarrassed Nicki
Do you think the PTO knows or did the bank just cash it and charge me?
Embarrassed Nicki

Hey Nicki - it won't show on your credit report (you pay
All my best,
Danni
$300 dollars in NSF fees? Thats crazy! I can't believe they can get away with treating their customers that way.
Lynne
BTDT, too!! I'm a CPA, for corn sakes, and this happens to me, too!
My budget's very tight these days, expenses high. I need to find a way to keep a few hundred dollars cushion in that account. I have so many of my recurring bills, insurance, tolltag, utilities on autopay--none of them are huge, but they add up and if I run my checking account down too low, I get in trouble. The bank acts as if they're doing me a huge favor by not bouncing my payments, but JEEZ LOUISE--it's $35 a mistake. Too much, if ya ask me. My goal is to never have that happen again. My solution is to keep an eagle eye on what's coming up and to try to keep an extra bit of $ in there at all times in addition to paying down my debt.
Simple to say, hard to do.
I have done this a couple of times too!! When it happened to me I called my bank and just basically told them that I had made a mistake and was sorry, and that the overdraft fees were such a shock to me, and was there anything that could be done. One time the person refunded all the fees, and another time they refunded half of the fees. So, it might be worth a try to call and see if anything can be done. Good luck!!
HTH!
I did something similar about a year into our debt recovery program. I was kicking myself! And the bad thing was, the check that put us over was for a large amount, and it went through *before* about five smaller checks, so I ended up with about five overdraft fees, to the tune of nearly $200. Oh, I was so angry with myself!!!!
After that, I immediately set about putting in a buffer to prevent it ever happening again. For one thing, I moved our automobile repair savings into an account with the same bank as my checking account, even though it gets lower interest. I set that account up as overdraft protection. Its balance fluctuates, but rarely goes below $100. The difference in the amount of interest I earn is less than 50 cents a month. The peace of mind is worth far more than that!
Then, I gradually "snowflaked" to my checking account until I had an additional $100 buffer sitting in the checking account.
Since that time, I have miscalculated on occasion, but I have never had an overdraft.
It happens. Pick up the bits, fix the holes, move on. And one overdraft is *highly* unlikely to show up on your credit record unless you keep the account overdrawn for more than 30 days.
Blessings,
Heather
firstamendment,
Actually, Danni didn't meantion anything about the bank waiving the $300 in NSF fees. Perhaps you thought I was replying to the initial poster?
I know for a fact that banks do not always follow the rules laid out in their customer agreements. I work for the government of canada/ontario and was involved in a local investigation last year into customer fraud (ie. not following the agreement). Just because a bank creates the agreement "plan" doesn't mean that they always follow it.
Lynne
Seniors Information and Advocacy
Government of Ontario
Government of Canada
(Boyfriend: Financial Fraud Investigator)
Hey Lynne - sorry, I have shared this story here before, so firstamendment probably remembers that the bank
All my best,
Danni