Comments on: I hate when that happens http://www.bluntmoney.com/i-hate-when-that-happens/ Wed, 12 Oct 2011 07:20:40 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: bluntmoney http://www.bluntmoney.com/i-hate-when-that-happens/comment-page-1/#comment-55173 bluntmoney Thu, 14 May 2009 18:50:18 +0000 http://www.bluntmoney.com/i-hate-when-that-happens/#comment-55173 Thanks, I will check. Thanks, I will check.

]]> By: Ladam8518 http://www.bluntmoney.com/i-hate-when-that-happens/comment-page-1/#comment-55161 Ladam8518 Thu, 14 May 2009 14:38:58 +0000 http://www.bluntmoney.com/i-hate-when-that-happens/#comment-55161 I am in the process of closing several bank accounts with a local credit union over this. The accounts are moving to my alma maters credit union which provides overdraft protection from linked accounts for free so the only change is access to a physical branch. Turns out with electronic billing the bank is notified several days in advance of the withdrawal and considers the money withdrawn at that time (using a hold) even if it remains in the account till a later date. I found this out when I had a $1500 bill set to clear on April 14 and transferred in the balance on the 13th. My statement showed no negative balance, but because the request cam in on April 10th for the transfer the credit union assessed the overdraft at that time when the account had a $600 balance. This particular credit union is the only banking service where I have noticed this discrepancy. They reversed the fees but the accounts are limited to one fee reversal only in the accounts lifetime, so my wife and I are looking to move our primary accounts. Check with your bank and make sure this is not the case. I was pissed because even my paper statement did not show an overdraft. It only looked like this: Balance:$600.00 April 10: Overdraft Fee for Transaction on April 14 -$25.00 April 13: Internet Transfer From Account #### $1500.00 April 14: #### Payment -$1500 Balance: $575.00 I am in the process of closing several bank accounts with a local credit union over this. The accounts are moving to my alma maters credit union which provides overdraft protection from linked accounts for free so the only change is access to a physical branch.

Turns out with electronic billing the bank is notified several days in advance of the withdrawal and considers the money withdrawn at that time (using a hold) even if it remains in the account till a later date. I found this out when I had a $1500 bill set to clear on April 14 and transferred in the balance on the 13th. My statement showed no negative balance, but because the request cam in on April 10th for the transfer the credit union assessed the overdraft at that time when the account had a $600 balance.

This particular credit union is the only banking service where I have noticed this discrepancy. They reversed the fees but the accounts are limited to one fee reversal only in the accounts lifetime, so my wife and I are looking to move our primary accounts.

Check with your bank and make sure this is not the case. I was pissed because even my paper statement did not show an overdraft. It only looked like this:

Balance:$600.00
April 10: Overdraft Fee for Transaction on April 14 -$25.00
April 13: Internet Transfer From Account #### $1500.00
April 14: #### Payment -$1500
Balance: $575.00

]]> By: bluntmoney http://www.bluntmoney.com/i-hate-when-that-happens/comment-page-1/#comment-55153 bluntmoney Thu, 14 May 2009 12:46:34 +0000 http://www.bluntmoney.com/i-hate-when-that-happens/#comment-55153 At least I didn't actually get a fee...just a notice of a transfer to my checking to cover what would have been an overdraft. But still! Yuck. And it looks like I am going to have to wait for my statement to figure out what went on. At least I didn’t actually get a fee…just a notice of a transfer to my checking to cover what would have been an overdraft. But still! Yuck. And it looks like I am going to have to wait for my statement to figure out what went on.

]]> By: mbhunter http://www.bluntmoney.com/i-hate-when-that-happens/comment-page-1/#comment-55131 mbhunter Thu, 14 May 2009 05:01:38 +0000 http://www.bluntmoney.com/i-hate-when-that-happens/#comment-55131 Yeah, those little fees are annoying. I had some a few years ago. They notified me with really slow mail, so four of them happened before we got the first notice. Oh well ... chalk it up to experience. ;) Yeah, those little fees are annoying. I had some a few years ago. They notified me with really slow mail, so four of them happened before we got the first notice. Oh well … chalk it up to experience. ;)

]]> By: bouncing back betty http://www.bluntmoney.com/i-hate-when-that-happens/comment-page-1/#comment-55090 bouncing back betty Wed, 13 May 2009 14:28:49 +0000 http://www.bluntmoney.com/i-hate-when-that-happens/#comment-55090 I got two of those notices last month as well. The overdraft protection lettter came in the mail and I went shreiking to the computer to see how I let it happen. Silly me had accidently mailed off a stack of bills a few days early and a couple hit the account a few days early. My bills got paid, but I got hit with a total of $120 in bank charges that could have been prevented. I got two of those notices last month as well. The overdraft protection lettter came in the mail and I went shreiking to the computer to see how I let it happen. Silly me had accidently mailed off a stack of bills a few days early and a couple hit the account a few days early. My bills got paid, but I got hit with a total of $120 in bank charges that could have been prevented.

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