Charged for overdrawn?

Question

the otherday i got charged $35 for going overdrawn. Are they allowed to do this? Aren't there any government regulations? Can i get my $35 back?

Answer 1

call up  your bank and see if you can get a fee reversal, and usually they will give your money back if it is your first accurance.

Answer 2

Learn to manage your budget.  You got yourself overdraft and they charge nsf fees.  Linking your chequing to a loc or savings could work if you do go over or monthly overdraft protection, onetime overdraft protect, etc.

Did you even read the contract when you opened your account.

Try and ask them for your money back if it's your first time.  Maybe they'll let you depending on your relations.

Answer 3

If you have Chase bank, kiss that $35 goodbye.  that's why we switched banks.  they're sneaky!  we accidentally overdrew for forgetting to put in one ATM withdrawl & that started a domino effect.  we kept getting fees upon fees, and when we asked to have some of them reversed, they refused.

most banks will do it though.  especially if you've been a long time customer.

good luck!

Answer 4

All banks do that. And it's perfectly legal (doggonnit!)

You were supposed to have received notice of this with the paper and forms provided to you when you opened your bank account.

You might be able to get it back. Call the bank, tell them your situation (BE COURTEOUS!), and ask for them to reverse the fee. If you're in good standings with the bank, they'd rather just reverse the fee than lose a customer.

Answer 5

It's legal and a standard practice in the industry. $ 35 is on the low end of the fee range actually. It is charged for every check that does not clear. Also the party the check was issued to may also charge you a hefty fee for reprocessing the overdraft. Generally, it costs in the $ 200 range to settle all the fees from an overdraft.

Answer 6

EVERY bank does that.

It is legal, it is disclosed on the fine print when you open your account.

The alternative would be legal charges for issuing worthless checks.