Quick Debit Card Question

Discussion in 'Community Discussion' started by TSE, Jun 4, 2012.

  1. TSE macrumors 68030

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    St. Paul, Minnesota
    #1
    Right now I am -$0.48 on my checking account but have $4.00 on my Savings account linked to it.

    Will I be charged for overdraft? This is through USBank.
     
  2. iJohnHenry macrumors P6

    iJohnHenry

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  3. gramirez2012 macrumors 6502a

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  4. 184550 Guest

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    May 8, 2008
    #4
    With my bank, USAA, overdraft protection is free.

    You'll have to check with your bank.

    Before Wells Fargo bought Wachovia, I know Wachovia charged ~$1.00 every time one over drafted on their checking/ debit account and they would automatically cover the charge from your savings account (or whatever account you had linked for overdraft protection). My best friend lived like that for a month or two before he finally realized that he was losing about $100 every month.
     
  5. iJohnHenry macrumors P6

    iJohnHenry

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    #5
    Only a buck?? Our banks do an extra blink and it's $5. :(
     
  6. Ricky Smith macrumors regular

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  7. yg17 macrumors G5

    yg17

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  8. EricNau Moderator emeritus

    EricNau

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    #8
  9. TSE thread starter macrumors 68030

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    #9
    I was nervous so I ran (literally) since I didn't have a car to the nearest USBank and deposited 5 dollars.

    I plan on canceling my debit soon and getting a credit card.
     
  10. Mac'nCheese macrumors 68030

    Mac'nCheese

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    #10
    Are you sure that's a good idea?
     
  11. iJohnHenry macrumors P6

    iJohnHenry

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    #11
    Good.

    Bad. Or it could be.
     
  12. yg17 macrumors G5

    yg17

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    #12

    No offense, but if you can't manage your money well enough to keep your checking account safely in the black, that is a horrible idea.
     
  13. TSE thread starter macrumors 68030

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    St. Paul, Minnesota
    #13
    Only reason I went over was because my dad gave me $20 to buy a $40 car part, I bought the car part with part cash part debit... I paid it off right away.

    The thing I hate about debit is if someone got ahold of my debit it has no protection. That is what scares me. Mine as well learn to use a credit card now before I am responsible for others.

    Or am I just thinking stupidly?
     
  14. GoCubsGo macrumors Nehalem

    GoCubsGo

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    Feb 19, 2005
    #14
    I'm not sure I see where you go from having to run to a bank to deposit a measly $5 to save your ass to getting a credit card. Something tells me you shouldn't get one.
     
  15. aethelbert, Jun 4, 2012
    Last edited: Jun 4, 2012

    aethelbert macrumors 601

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    #15
    It doesn't sound like there would be much to lose if access to your checking account were compromised via the loss of a debit card.

    Just block the ability to let the card process charges in excess of your account balance. Easy.
     
  16. QuarterSwede macrumors G3

    QuarterSwede

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    Colorado Springs, CO
    #16
    If you're worried about security I take it your debit card can also be used as a credit card on the machines (has a VISA logo). If that's the case I would bet your bank offers a debit card only option. At least that way you have to know the PIN to use it.
     
  17. NewAnger macrumors 6502a

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    #17
    With my bank, I frequently pay my bills the day before I go to make a deposit. These are bills that won't show up on the account until the next day such as utilities and my mortgage. When I wake up, the account is negative but as long as I get to the bank with my deposit before the cutoff, there are no overdraft charges. Been doing this for years.
     
  18. Ricky Smith macrumors regular

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    #18
    Whatever you do for the love of god don't follow this advice, I do it myself and it's a horrible idea. Sure for some it always works, for others it sometimes works for a LOT of people it never works. I usually get away with it however I have been bitten more than once by it.

    ALWAYS have the funds before making payments as you never know what will happen, some will say 3-5 days for example and process that night.
     
  19. NewAnger macrumors 6502a

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    #19
    I wasn't giving advice to anyone, just stating what my bank allows.
     
  20. Ricky Smith macrumors regular

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    #20
    Most banks have that policy if you get it in by the same processing day it wont charge you. But what you were saying is you pay ahead and OD the account since you're getting paid. IF your employer messed up and didn't direct deposit your funds that day you'd be up the creek.
     
  21. NewAnger macrumors 6502a

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    Denver Colorado
    #21
    Exactly. There have been times when my mortgage was scheduled to be deducted out of my account on a Monday. My paydays are on Tuesdays. I never worried because my paycheck is always direct deposited on Tuesday or on Friday if it's a holiday weekend.

    I did stop all automatic payments this year because I want more control of when things get posted to my account.
     
  22. sviato macrumors 68020

    sviato

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    #22
    Lol I don't think that's a good idea...
     
  23. ace198, Jun 6, 2012
    Last edited: Jun 6, 2012

    ace198 macrumors regular

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    Oct 8, 2007
    #23
    I overdrafted a bunch of times(10+) around a month ago with Bank of America. I had no overdraft protection but had the money to cover the overdrafts in my savings. I didn't get charged any fees.
     
  24. Rodimus Prime macrumors G4

    Rodimus Prime

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    Oct 9, 2006
    #24
    Sounds like you have some other massive problems to worry about as well.

    I strongly suggest you learn some money management skills
     
  25. kolax macrumors G3

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    Mar 20, 2007
    #25
    If you put the money in the day you go overdrawn you should avoid any fee, and if you do get a fee you can dispute it.
     

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