[gloamingone]

Last week I totally forgot about my car insurance coming out of my bank account. It put me in the negative by $50. I got a notification in the mail about the overdraft charge...but the charge still hasn't shown up, a week later. I went into the bank to ask them about it, and no one could tell me when it will be charged to my account. In fact, one of the bankers told me if it hadn't shown up by yesterday not to worry about it.

So of course, I'm worried about it coming out weeks down the line when I least expect it. Has this ever happened to anyone else? It's so weird!

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[Fresia]

One bank I had had a policy of a one time forgiveness, then after that, the fee was taken out at the end of the statement period. SO it may not be until the end of the statement period that it comes out.

The other bank it was taken out within two weeks of the offense was their policy.

They also may wait until there are funds in there to take it out, so the draft does not go further into the negative.

Several possibilities to keep an eye out for. I am surprised though they could not tell you when it would be. Perhaps they may not take it out but I would count on that amount possibly being withdrawn at some point just in case.

[happiedasiy]

Originally Posted by gloamingone

Last week I totally forgot about my car insurance coming out of my bank account. It put me in the negative by $50. I got a notification in the mail about the overdraft charge...but the charge still hasn't shown up, a week later. I went into the bank to ask them about it, and no one could tell me when it will be charged to my account. In fact, one of the bankers told me if it hadn't shown up by yesterday not to worry about it.

So of course, I'm worried about it coming out weeks down the line when I least expect it. Has this ever happened to anyone else? It's so weird!

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Don't believe what they say, go back to the bank and get a copy of your statement. Also call the car insurance company to make sure they received
payment. Then make sure you have enough in your account because at the end of your statement that $ 50 will be deducted.
Banks make big bucks on fees.
Also they may charge a monthly fee if your account is below $100.00*
H.

[Altered Moment]

That has never happened to me. usually that $35 overdraft fee shows up right away. They make a fortune off of them. They can charge that for each purchase if you don't know you are overdrawn. Like an ATM charge for 5 bucks. Rather than denying the purchase. The government did crack down somewhat on these practices. I have found if you call and complain before it is posted they will often waive it. Once it is posted they tell you there is nothing they can do.

[gloamingone]

Originally Posted by zinco14532323

That has never happened to me. usually that $35 overdraft fee shows up right away. They make a fortune off of them. They can charge that for each purchase if you don't know you are overdrawn. Like an ATM charge for 5 bucks. Rather than denying the purchase. The government did crack down somewhat on these practices. I have found if you call and complain before it is posted they will often waive it. Once it is posted they tell you there is nothing they can do.

It was kind of weird going to the bank and almost complaining that the fee hasn't shown up. And it still hasn't yet. It's bizarre!

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[Hellion]

No I cannot say that has happened to me...However I use a credit union, for one all the services are free no hidden fees/charges and such, I do not really trust banks.

[hvert]

I think you may have gotten $50 worth of forgiveness. It's not that unusual for financial firms to 'forgive' these things the first time or if you complain.