Getting charged a NSF fee by my bank?

Question

hey guys!

so I've run into a bit of a problem, I have some cheques that got processed through my account this morning and they put my account into negative.

I dont get paid until tomorrow, will i be getting charged with an NSF fee? how long does this take? will I be ok until i get paid?

Answer 1

Most banks that I know of will pay the checks, if they're small and you're a good customer.  The fee for a paid overdraft item is the same as the fee for bouncing it, so they get their money either way.  I don't understand the part about "how long does this take?"  The fee is per item and is immediate upon processing the item.

Answer 2

Call your bank.  Every bank and bank account has certain rules that apply to when and how much the NSF fees will be charged.  You might have overdraft protection and if you don't I strongly encourage you to get it.  Someone at the bank can usually waive the charges if you appeal to them and if your history with the bank is clean.

Answer 3

They will charge per business day. So if you get paid the next day anything that goes through your account will recieve an NSF fee. So do not use your debit card. If you can put money in the same day your account goes negative because then you will not recieve a fee since it is all done on the same business day.

Answer 4

yes you will be charged if your bank already says neg..sorry :(  you need to link your savings with your checking and then you wont get charged in the future...be prepared to pay about $40 a pop.

Answer 5

They will start charging you right now.  Your bank will be charging you for each check.  Depending on the bank they may send the checks back to who you wrote them to.  So a $25 check may cost you about $100.  $25 for the amount, $25-$50 for NSF from the company you wrote it to and $25-35 from the bank.  

Do not write checks you do not have money to cover.  Very simple.  Learn how to write the amounts and balance check book.  Put down all ATM withdrawls.  They are just like writing a check.  If you "check" your balance on line and see $500 in there does not mean you have $500 to spend.  You may have written checks for $300.  That means you only have a $200 balance, which you can spend it all.  If you have a service fee each month you need to keep that money in there too.  Good rule of thumb is to never go below the $100 balance.