[alyssarox32]

HELP! I need a real pro to help me figure this one out; maybe a banking pro. As of 12/17/07, my checking account overdrafted by $1.05. Naturally my bank (TD Bank North) charged me... $35.00!! I don't know if anyone knows RedBox DVD rentals but 4 of those came through on my account and I did not know that my account had overdrawn. Don't think I'm not one of those people that don't balance my check book, because trust me, I do! So not knowing that I had overdrawn by $4, another bill came through, only this time it was a $9 restaurant bill, which was used on my debit card. So far, my bank charged me by far over $200 for this and that includes all those $35.00 fees for every overdraft made. Right now... my account is at a whooping $421 just because I made that little mistake. As soon as I found out my account was negative, I went straight to my bank and explained to them that (at the time) I had no job and was not able to pay this off. They could not waive the ridiculous amount because they had previously done so twice early in the year but never that much. I just started my new job and now most of the paycheck is going towards this. I know this is how banks make their money but I took the innitiative to speak to my branch supervisor and tell her myself, that I did not have the money. What do I do? I can't NOT pay it off because that will mess up my credit, but at the same time, this is RIDICULOUS! HELP!! :mad:

[Emland]

I had that happen years ago. I call it the cascade effect. See if your bank has overdraft protection. Things that automatically draft your account can get you sometimes.

[Fastfun1]

As a branch manager of a large retail banking operation, I can tell you that this is NOT how banks make there money. Unfortunately, it is an avenue that has been exploited by corporate policy makes to make money, but we, on a branch level, focus on the overall financial well being of our customers, i.e. home loans, CDs, savings bonds, checking, savings, installment loans, etc. One is typically granted a single overdraft fee waiver a year, anything over that will have to be waived due to banker error. So, i.e. t sounds like you already used up your allowance for the year. If you come in on a weekly basis and make deposits into the account, you will eventually get caught up. As long as we see the effort being made, we will not file collection or judgement, its not worth money. If you have decent credit, most checking accounts can be linked to a credit card. Rather than get hit $35/overdraft, the overdrafted amount +$10.00 will be charged to you card. Get a new job, pay down your overdraft and move on.

[Fr_Chuck]

I would say I am sorry but your own words that his has happeend a couple of times early this year, that is why you balance your check book closely you write every debit out and you know when you have or when you don't have any money. While I hate the charges also, it is caused by our errors, and is not the banks fault.

[ebaines]

Your story reinforces my theory that one should never use a debit card - it is virtually impossible to know where your account stands, and if your checking account is so tight that a $9 debit started this mess then you should vow to never, ever use a debit card again. Use cash, or check, or if you must, a credit card (but only to the extent that you know you can pay it off completely when the bill comes at the end of the month). The use of debit cards benefits no one but the bank!

[wolfcandy2]

Actuallly I have a bank debit card and know where all my money goes at all times.It is taken off for every purchase and since Im on fixed income my bank doesn't charge me the overdraft... just how much its over

[ScottGem]

I will join the others in that I have little sympathy for you. You claim that you are not someone who doesn't balance their checkbook, but it appears you don't. You state this has happened twice before.

If your checking account balance is that tight then you are not managing your money well. You should have overdraft privileges on the account or you should not be using debit cards or other things that directly debit your account.

But that doesn't solve your current dilemna. So what I suggest you do is go to the bank and tell them you understand you screwed up and want to pay the fees, but you don't have the money right now. See if they will agree to some payment schedule. Or maybe you can open an overdraft account and put the overage into that. So you can pay it as you can.

[alyssarox32]

I don't care that no one has little sympathy for me. I have been an excellent customer to them for 3 years and the two 'incidents' that had happened earlier in 2007, one of them was NOT my fault. Yes, I am to blame for overdrafting, but I didn't ask for any one's sympathy. I asked for advice. My advice is to take some reading classes. The issue has been resolved so this topic no longer needs to be continued.

PS. Thank you Fastfun for you'r input. I have made arragments to pay them a certain amount every two weeks and it will be paid off this Friday 2/1/2008

[wolfcandy2]

Alyssa Im not one to berate a person for their oversights... it was an honest mistake that could happen to anyone... even if you keep a check of everything there is always that chance that something could go through and screw it up,as was your case.
Hope that you try not to make the same mistake again...

[alyssarox32]

Yes I understand. Somewhere along the line I screwed up w/the math or something. Trust me, I am the obssesive type of person to record what I purchase right after I purchase it. I will not (hopefully by not some stupid error) let this happen again. Thank you for you'r input!

[wolfcandy2]

It part of being a nice guy without sounding like an... lol

[ScottGem]

First, may I call your attention to the guidelines for using the comments feature found here:

https://www.askmehelpdesk.com/feedba...ure-24951.html

Your rating of ebaines comment was inappropriate since it was not factually incorrect.

Another point, when you ask for advice on a site like this, you open yourself up for comments based on your question. Those comments may be extraneous to the question itself. Sometimes the comments (as in ebaines case) are used to help others who might be reading about your problem.

There are a lot of banks out there. If you don't like the way your bank is treating you, then take your business elsewhere. I did that recently (there is a post about it) where the bank that held my Home Equity loan refused to credit a late charge for a payment that either they or the post office lost. I could prove I issued the payment on time since it was done through my banks bill payment service. I told them if they didn't credit me I would take my business elsewhere. They refused so I took an $80K balance to a different bank (and got a lower rate in the process).

[alyssarox32]

Okay whatever. My comment was totally opinion based. So what? Are you going to hold me against using this site? Do you even have the power to? First of all may I call your attention to the URL you posted? It doesn't work. Maybe you should concentrate a little more on your errors such as spelling and posting URLs then respoding to my post I said was already resolved. The bank you metioned should have waived that. If you have been a good customer to them and haven't had a payment late before then they would have seen that yes, it was a mistake.

[ScottGem]

The link works for me so there is no error on my part. You can find the post on the top of the Forum Help forum if the link doesn't work for you. And while I do have the power to ban you, I would not exercise that power simply because you are being rude and abuse the use of the comments feature.

I try to spend my time answering questions, carefully proofreading my answers is time wasted In my opinion. I do try and scan my responses but occasional typos do slip in.

And I did notice your statement that it had been resolved, but my comments after that response were based on your actions in the thread, not the original issue.

I suggest you let the matter drop before you dig yourself in any deeper.

[aru36]

Caution is the name of the game here. Banks do not like customers who keep running up an overdraft and asking for waivers. Back here in India, we bankers have a procedure to close these accounts and not have any further transactions with such customers. We call it "bank induced closure". Prudent spending and financial discipline are the keywords to a decent life.