Online Banking

I was very preoccupied with a divorce, new house, new roommate, new budget and all the many things that follow separation. I was spending most of my time with my grandmother who was very ill in a small town a few hours away. I had rushed home one evening to pay some bills, feed the cats, check email, etc. I had written out all my checks and was just relaxing for a bit. I decided to check out how to pay bills online.

It was really nifty, so I input all of my information one debtor at a time. I wanted to get them all started as soon as possible; I was very excited. Everything was on schedule to take care of itself over the next few months without my attention. I went back to my home town to stay with my grandmother, comforted by the fact that all my bills were set up to auto pay.

Later, I went to the local ATM to retrieve some cash and found that I had negative $500 in my account. My bills had all paid online and my roommate had so thoughtfully mailed my checks for me. Everything for the entire month had been paid twice. I had no money and many of the checks had bounced. I was charged hundreds of dollars worth of overdraft charges and returned check charges.

--submitted by ivillager dawn

If you have a money mistake of your own that you'd like to share please send it in to us at: moneylife@mail.ivillage.com.

Let's grow from our mistakes. Learn how to pay your bills electronically, with the help of The Truth About Online Banking and Five Questions to Ask before Banking Online. Then join the rest of our community on ourmessage boards and share your own mishaps and accomplishments.

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