Question:

Can I withdrawl $300.00 from my account if the money is not there?

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I have had this account for about 2 years and right now there is like 8 bucks in there. I need money to cover my rent so I was wondering if I could just overdraw my account for a few days...anyone know? It is Bank of America if that helps.

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8 ANSWERS


  1. Nope. The bank might allow an overdraft of a few dollars, but not 300. You'll have to find another way.


  2. Nope.  That is illegal.   And it won't help you.  They will know right away. Better to tell your landlord you need a couple more days and stick to it.  Because he would know almost immediately you sent a bad check.

  3. If you have had the account for only 2 years and it only has $8. if you write a $300.00 check the check will bounce and the landlord will be charged a $25 fee and your bank will charge you up to $45 for a bad check and your rent will be late, so lets see $25 + $45 + late fee + $50 now you owe $420. Wait and pay it when you have the money.

  4. NO, you would be committing a crime and are doing it knowingly.

    If you have a credit card and take a loan out with it the cash advance fees will grow rapidly and soon you will be in even more serious trouble.

    You need to find a way to get the money (legally) and pay your rent.  Friends or family able to help, ask them.  If you are alone, you may be in need of professional help to get back to having funds you need.

    Are you working, have savings, what else is going on.

  5. My answer would be to not choose this option. The main reason is, as mentioned before me, this is illegal. Secondly, the bank may or may not allow you to actually be overdrawn for the amount of the check. Many banks have dollar limits or set limitations based on the number of times you have been overdrawn in the past. If the overdraft is not honored, then your landlord can add the charge he will incur for the bad check to the cost of your rent for the following month. Even if the check is paid, BOA can still charge you an overdraft fee (from $25-$55). Additionally, you have to think of the status that the bank can put your account in after the overdraft. I have not worked in commercial banking since 2004, but then, BOA was very strict. They would shut done someone’s ATM card for having an overdraft and have them wait 6 months to apply to have it reinstated. The bank I worked for would close your check card. And of course overdrafts are report to ChexSystems or their equivalent. Which basically means, it will follow you.

    If you must, you better off taking the credit card cash advance advice, however, there are serious fees associated with that as well.


  6. Gee, what do you think?

  7. for that amount the check might bounce and you will be hit with a big fine. use a credit card to withdraw the money and then get a money order with it and pay for the rent that way.

  8. it's really depend on your bank. Some banks will let you overdraft it but they're charge you like 29.95 for overdraft fee.  

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