Will a bank pay that amount of money?

Question

$750.00 bill, If someone only has $200 in their bank account?

Answer 1

if you have overdraft protection and it falls within your limits.

Answer 2

NO! They are not your parents willing to bail you out.  They are not responsible for your bills.  If you write a check, it will bounce, and be prepared to pay charges.  Some Credit Unions will pay, BUT they will give you an automatic loan that you will pay interest on.  

Answer 3

Well, hon, the money has to come from somewhere!

As aswered above, if your account has Overdraft Protection then yeah they'll cover that one bill.  It's like taking out a loan - you'll pay fees and you'll pay interest, and that just increases the amount of money that you owe.  And the bank probably will freeze your account until that overdraft is cleared up; not pay anything else.

Much better to get the bill paid for properly than to depend on overdraft.

Answer 4

No, a bank will not pay out more than you have in the account - that would be a loan, not a withdrawal.   I believe it is actually considered fraud or deceptive practice to knowingly write a check for more than you have in the bank.  At the least, you will incur overdraft charges.  If you do this on a regular basis,  you could possibly face legal charges.

Answer 5

Yes,they could. It is up to the bank and it depends on your credit history with them. But, if you are overdrawn you will need to pay the $550 back plus fees. And if you do not pay in a timely manner,they will send you to collections and report you to Chexsystems.

You don't want to do that.It will be very hard to get another checking or savings account after that.