No NSF charge for me, kinda surprised

[SLJ6974]

Ok, so the other day I had a total of $8.36 in my checking account at Regions bank. I told my husband to get himself $8.00 in gas on his way to work. Well he got gas that day after work and put in $10.00, forgetting that I told him to get just 8.00. That put me in the red of $1.64 the next day. I did notice this the next morning and went by the bank and put in about $40.00 to cover that and any NSF charge they might impose on me. And I do know that if they did hit me with a NSF charge, they were certainly in their right to do so. But they never did. Kinda shocked me actually. I just wonder why? I'm not complaining, but surprised.

 

[aaarcher86]

Some banks are giving a 24 hour window to right the wrong now. Not sure who you bank with.

And I definitely could be wrong on this - but I thought that the new NSF laws said something along the lines of only being able to charge for reoccurring debits... like bills that come out each month or something.

 

[tlh0726]

my bank advised me that when gas charges come through they normally just authorize for $1.00 and then the actual charge amount goes through later.

 

[angierae]

my bank advised me that when gas charges come through they normally just authorize for $1.00 and then the actual charge amount goes through later.

This - when you swipe your card at the pump, they run a $1 authorization to make sure the card is valid, since they don't know how much gas you are going to get. The final charge doesn't go through right away - I've seen it take as many as 2 or 3 days on my online banking.

I don't COUNT on this or anything, but that's probably what happened. YOu made the deposit before the final charge went through.

 

[Leajess99]

Your gas charge was probably still a pending transaction therefore no NSF charge until it was posted. Not all transactions are immediate. I know I have had several gas charges that were in pending status for a few days (it can be seen on my checking account) before they actually posted.

 

[akayek31]

I have Regions too. I opted out of the NSF. If I get gas and it goes over they do not charge me the $36. If you have a check that comes in or something like netflix that comes out automatically then they do charge the NSF if the money is not in the bank.

 

[supermommyof4]

I am a banker. Yes, it is quite possible that your debit card was only authorized for $1.00 to verify the card. Most likely the actual electronic file for the purchase was not processed until the end of the business day or the on the following morning. It really depends how each merchant handles the processing of their ACH transactions as to when it will actually post to your bank account. However, many banks do not issue any NSF fees for ACH transactions that overdraw the bank account unless it is MORE THAN $5.00.

At any rate, consider yourself lucky since it worked in your favor this time.

 

[SandrA9810]

My bank didn't hit the NSF fee until the following business day. I wouldn't spend that $40 so soon.

You should always prepay gas inside, rather than paying at the pump. That way, your account is authorized for the amount you want, rather than just a $1.

 

[ToodlesRN]

One of our banks we bank at doesn't charge a overdrawn fee unless your over $6 which is nice if your check book is off by a couple of dollars. Our other bank I think will charge if it's over 5 days overdrawn, I've never tested it and don't plan on it as the fees are so expensive to begin with!

 

[JaymeC]

I work at a credit union. I've seen an NSF fee for a 10 cent overdraw (seriously) and not seen one sometimes for $5-6. Sometimes I think it's just the timing of when it comes through on the computer, or that our computer is a bit wonky. If it hadn't cleared all the way yet you definitely wouldn't have had the NSF though. Incidentally, if you do ever accidentally get one try calling up and asking them to refund it. We'll almost always do it the first time someone overdraws their account, and it never hurts to ask.

 

[ilovemk76]

Ok, so the other day I had a total of $8.36 in my checking account at Regions bank. I told my husband to get himself $8.00 in gas on his way to work. Well he got gas that day after work and put in $10.00, forgetting that I told him to get just 8.00. That put me in the red of $1.64 the next day. I did notice this the next morning and went by the bank and put in about $40.00 to cover that and any NSF charge they might impose on me. And I do know that if they did hit me with a NSF charge, they were certainly in their right to do so. But they never did. Kinda shocked me actually. I just wonder why? I'm not complaining, but surprised.

You knew there was only $8.36 in your account and you had $40 cash. Why did you not just give your DH the money to gas his car on the way to work or why did you not put the cash in the bank so your balance was $48.36?

 

[SLJ6974]

You knew there was only $8.36 in your account and you had $40 cash. Why did you not just give your DH the money to gas his car on the way to work or why did you not put the cash in the bank so your balance was $48.36?

Well because I had that 40 bucks set aside for something else, and I specifically told him to get 8 bucks worth. I will just have to remember to really drill it into his head next time we are running low on funds.

 

[Raevyn_Wolfe]

I have Regions too. Regions started a policy a little while back where they will not charge you if you only go overdrawn by up to $5. You will get a notice about the transaction in the mail (or should) showing the transaction, that they paid it, and why you didn't get a charge.
On another note, my husband's Bank of America, he is not charged a NSF fee for overdrawns of up to $10.
If it matters our accounts are in Florida.

 

[Plantlady]

my bank doesn't charge unless you go $10 under.

We are BOA as well, probably it is a nationwide policy.

 

[Planogirl]

my bank doesn't charge unless you go $10 under.

We are BOA as well, probably it is a nationwide policy.

It's a policy at my BOA too.

One time I completely forgot about a pending charge. I even overlooked the listing in my ledger. BOA allowed a charge to go through and then didn't charge me anything for being under.

 

[MrsJackSparrow4Life]

Chase gives me a day to get money into the account before charging me a NSF fee.

 

[sookie]

why are you cutting it so close? if i only had 8 buck in the bank, i would not use that account AT ALL until i had more money in it!! to me, 8 bucks might as well be 0.

 

[Free4Life11]

why are you cutting it so close? if i only had 8 buck in the bank, i would not use that account AT ALL until i had more money in it!! to me, 8 bucks might as well be 0.

Well not everyone has the ability to carry a balance in their account. I know I don't, so I keep a spreadsheet of all transactions to the penny; for me $8 isn't the same as $0.

 

[Swan4Me]

why are you cutting it so close? if i only had 8 buck in the bank, i would not use that account AT ALL until i had more money in it!! to me, 8 bucks might as well be 0.

I agree-that is lunacy

I always have a few hundred in my account and a few thousand in our joint

What amazes me is all the folks with financial problems and multi Disney trips in their siggy

 

[Raevyn_Wolfe]

Lunacy? Financial problems? I had no idea it was a financial problem to spend down to 0 in your checking account. I thought that's what those were for, spending money. I thought savings accounts were for saving. I guess I'll just have to continue my financial problems though cause to me it is lunacy to carry a balance in a checking account unless it's interest bearing, I would rather move it to my savings account, thank you very much. Leaving hundreds and thousands sitting in a checking account is just wasting the potential earnings on it, again, lunacy. We're not talking about debt, or credit cards, we are talking about slightly going over on already existing, already hard earned money. Again, we're talking about going over by $5 to $10, not $30, not $100, and not being put on a credit card collecting fees. To me those are financial problems. But then again, what do I know, I am a lunatic with financial problems because I spend my money out of my checking account and let my savings collect interest in my savings account, and visit disney.