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.
Will I be charged for overdraft? This is through USBank.
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Quick Debit Card Question
- Thread starter TSE
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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.
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.
Looks like you might be charged $5 or $10. As others have said, you should call as soon as possible.
http://www.usbank.com/checking/overdraft-protection.html
http://www.usbank.com/checking/overdraft-protection.html
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.
I plan on canceling my debit soon and getting a credit card.
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?
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?
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.
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.
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.
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.
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.
