How long does it take for a charge to post against your bank account?

Question

I just signed up for a paypal account using my debit card. I didn't know this, but to verify my debit card, they're going to withdraw $1.95 and then put back in in a few days. Well, I've only got 80 cents in my bank account right now so first thing tomorrow morning around 10 or 10: 30 am, I'm going to my bank to deposit some money. I'm worried they'll take the money out before I can deposit some money in the morning and I'll have an overdraft fee. Since it's Sunday night, will I have enough time to get to my bank before they take the money out or will I be stuch with an overdraft fee? I'm not sure how long it'll take paypal to take the $1.95 out of my bank account. Hopefully not before tomorrow morning! Do I have time to put the money in my account or not?

Answer 1

It might take them up to 3 days, but can show up as fast as overnight (probably not on a Sunday night, but a weekday night).  Get the deposit in the bank first thing in the a.m.  If you are depositing a local check, it can take until the next day to be credited to your account.

Never let your checking account balance fall below $100. Preferably never let it get below next month's rent/mortgage + car + utilities + $300.  You must always have cash reserves handy at all times!  And you must protect your self from mistakes, bounced check charges, and monthly service charges.  If you let your account get too low, you risk costly errors.

Answer 2

I'm with simsane on this...it took 3 or 4 days.

Answer 3

I couldn't say for sure, but when I first signed up for paypal, it took them three or four days before they took the money out.  Not just three or four days before I got the bank statement as I am able to see my bank records online whenever I want and it was 3 to 4 days later.  But that's just my own experience so I can't guarantee it will be the same for you.  If enough people respond saying the same thing though, then maybe that will mean it will be that way for you as well.

Answer 4

I agree with the others that I should take a couple of days, since it is sunday the transaction won't occur untill tomorrow  so if you made the deposit in the morning it should be fine.

with my bank ( all are different though) they balance everything at 5:00 pm so if I make a cash deposit before 5 it will cover anything that posts that day. Keep in mind like others have said if you are depositing a check it will take longer for it to post to your account.

Hope it helps.

Bethany

Answer 5

Even if you get an overdraft fee you can usually talk your way out of it.  My brother has gotten his overdraft fees waved several times.  Just call and explain what happened, that you didn't expect them to take the money out immediately, etc.  But put some money in the account ASAP so they know you meant to pay.