Do you think I will get charged an overdraft fee?

Question

The bank I am reffering to is Chase. I never use this bank account but I happened to look at the account one day and saw I had a balance of $10.64 so I decided to use that up on itunes. I guess I over spent in itunes and this morning it showed I had a PENDING transaction of $13.11 from itunes which showed that I would be overdrawn $2.47.

So I ran to the bank and deposited $41 and looking at my account, it shows BOTH the itunes purchase and my deposit are pending. It shows my balance of $38.53 so it ate up the 2.47.

Since I paid it while its pending, will I still get charged an overdraft fee? Its dumb if I do cause the fee is around $30-35 and I only overdraw two dollars and change.

Answer 1

Assuming the deposit was made before the cutoff time to post tonight, your will be fine.  If not, it depends on if the itunes charge actually posts tonight.  If it does, you will be charged an overdraft fee, but the deposit posting tomorrow should cover it.

Answer 2

Call up the bank and ask them. If they are going to asses a fee, ask them not to. They may listen to you.  

Answer 3

you should be safe. Banks have to process credits before debits to your account, so since the itunes charge wasnt officially taken out, the credit to your account should be processed before the itunes charge debits.  

Answer 4

It depends, with most banks it used to be if you put money in your account before the overdrawn amount post, that you wouldn't incur the fees. But lately big banks like BOA charge you fees if the overdraft is still there that night when they begin processing (whether the transaction is pending or not)

Answer 5

I used to have Chase and my relative still does. You will be fine. they will process both at the same time more than likely and you won't get charged.

If a charge does come up, they will cancel it when the deposit is entered into their system.

Answer 6

As long as it was on the same business day you will not get a fee. The business day for most larger banks is 2pm. Not sure what chase is, but most likely 2 to 4. So if you purchased then went after the end of the business day you will get a fee. If they were on the same business day then you are fine.

Also you might not have went over enough to get a fee. The bank I work at you must be overdrawn by more than 5 dollars to get a fee.

Overdraft protection does not protect you from FEES!!!! It simply puts through your transaction/check. It is only meant to be used in emergencies and to not have checks bounce.

Answer 7

YOU SHOULD BE SAFE. ALSO CHECK AND SEE BECAUSE CHASE USUALLY GIVES OVERDRAFT PROTECTION.