Ask Bank to Reverse Overdraft Charge

Our college freshman recently overdrew her checking account by $8 when paying for this semester's books. We contacted our bank (which holds all our accounts, including investment accounts) and explained the situation to them.

Ad

They reversed the bank and the merchant's overdraft fees which totaled $61. We then added overdraft protection (no charge) which will transfer $50 increments from her savings account in the event of a future accidental overdraft.

Our bank graciously extended this to us because we have never had an overdraft and it was to keep a long term customer happy. When an unexpected event occurs, ask the bank to reverse the charges. You may be pleasantly surprised at the willingness to help you out.

By skibum1910 from Prospect, KY

February 8, 20100 found this helpful

I can't speak for your bank. But we have 2 banks and one it almost takes an act of congress to get them to reverse overdraft charges. The other one is very good about it.

The bank doesn't refund the charges from the merchant though. But they do contact the merchant and by the time he's done talking to him, the merchant has agreed to refund it.

Ad
ReplyWas this helpful?Helpful? Yes
February 8, 20100 found this helpful

Our major/national bank does not offer overdraft protection. However, they did offer to extend us a home equity line of credit to cover overdrafts. About $500 in various processing fees and $50 per year maintenance fee.

We simply transfered $250 from savings to checking and never entered it in our checkbook. Only remember it at checkbook balancing time.

ReplyWas this helpful?Helpful? Yes

Add your voice! Click below to comment. ThriftyFun is powered by your wisdom!

Related
In This Article
Bank Column
Saving Money on Banking
Categories
Budget & Finance BankingFebruary 5, 2010
Guides
A pink piggy bank made from a plastic mayo bottle.
Mayonnaise Jar Piggy Bank
Sewing Machine
Sewing Machine Stuck in Reverse
Writing a check
Saving Money on Checks
Woman Speaking with Credit Union Teller
Using Credit Unions
More
🎄
Christmas Ideas!
🍂
Thanksgiving Ideas!
Facebook
Pinterest
YouTube
Contests!
Newsletters
Ask a Question
Share a Post
You are viewing the desktop version of this page: View Mobile Site
© 1997-2016 by Cumuli, Inc. All Rights Reserved. Published by . Page generated on November 18, 2016 at 1:02:23 PM on 10.0.2.185 in 2 seconds. Use of this web site constitutes acceptance of ThriftyFun's Disclaimer and Privacy Policy. If you have any problems or suggestions feel free to Contact Us.
Loading Something Awesome!