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Bounced checks?

Is having your checking acct overdrawn pretty common among your families? I accidentally got overdrawn at our bank by only a small amt, then once that happened, more checks started to come back in before I had the money to deposit. So, it snowballed! $33 bucks for every item that does not clear! Then, once I got back on track, it happened again because so much money came out of that deposit to cover the overdrawn amt, leaving us short again. It took a whole month worth of paychecks to get this straightened out. Until we were in the positive, the bank would not let us cash any checks at all without depositing what we owed--which meant we had NO MONEY TO LIVE ON! They keep charging daily fees as well-$10 bucks for every day your acct is in the negative. How do they expect you to ever get caught up when they keep charging fees? Anyone else out there had stuff like this happen?

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Anonymous

Asked by Anonymous at 11:49 AM on Jan. 8, 2009 in Money & Work

Answers (13)
  • The same thing happened to us once and it was so hard to catch up, not because of overspending but because of the bank fees!
    MommyAddie

    Answer by MommyAddie at 11:56 AM on Jan. 8, 2009

  • i do not use checks unless i really have to, maybe for a bill, but we use cash so we can keep track of our expenses and so that the bank doesnt give us grief like that.

    my in law did purposly write out thousands of dollars worth of checks without any money in the bank and she went to jail and is still paying it off so she can stay out of jail.

    checks are too much of a hassle if you ask me.
    americansugar80

    Answer by americansugar80 at 11:58 AM on Jan. 8, 2009

  • They don't expect you to get caught up. That's how they make money. I actually had a bank account rep tell me one time that they were told not to push overdraft protection b/c they make more money when people don't have it.
    tropicalmama

    Answer by tropicalmama at 11:59 AM on Jan. 8, 2009

  • It was happening to me b/c my hubby would use our card w-out asking if we had the money in there or what we have that he can spend. he ahs a seperate account now that he uses for him and I use the other for us-bills groceries ect. but what i started doing a few yrs ago was a play off of Bank of America's "keep the change" I started rounding my debits up to the next dollar amount. Like if I spent 32.58 I wound it up to 33. What I started doing last yr though was started rounding it up to the next level. If I spend 32.58 I round to 35. I've been able to have extra cushion in my account just in case. I try not to over debit as far as how my account looks like it has but everyone now and then I do. But I end up with about 30-40 xstra a month by doing this. When I get ove ra 100 xtra I add that 100 back into my account and then kind of start again
    SMWOODS

    Answer by SMWOODS at 12:01 PM on Jan. 8, 2009

  • This is why I do not write checks anymore. It is far too easy to forget, or not get the money in there when you need it to be. And don't try to count on direct deposit.. that can even screw up on ya. I only use cash or my debit card now. I don't want the bank to make 37.50 every time I screw up.
    pupmom

    Answer by pupmom at 12:18 PM on Jan. 8, 2009

  • No, we have overdraft protection and we don't buy anything if we are close to 0 in our account. The banks have the fees in the information you get when you open an account so they are doing nothing wrong. Find a bank that has lower fees and try to find one that has overdraft protection.
    Anonymous

    Answer by Anonymous at 12:27 PM on Jan. 8, 2009

  • No. I know how to budget my money.
    Anonymous

    Answer by Anonymous at 12:37 PM on Jan. 8, 2009

  • I made this mistake on one $26.00 check at Walmart. I then forgot about adding it into my check register which I was RELIGIOUS about balancing b/c I moved 3 times in less than 6 months. I opened another checking account at another bank closer to where I moved to and kept "putting off" closing the old account due to having so much going on in my life at the time. By the time I remembered to close the account, Walmart had the DA put a body warrant out for my arrest and I did 3 days in jail and paid $300.00 to clear up the check, court fees, fines, etc!
    Babylove76

    Answer by Babylove76 at 12:38 PM on Jan. 8, 2009

  • What is the deal with you anonymous people with the sour attitudes? Not everyone is as perfect in life as you are, and newsflash, crap happens. It may not happen to you with finances, but with your self righteous attitude, I am sure you have other issues where crap does happen! This discussion was between people sharing bad experiences and supporting each other-YOU ARE NOT WELCOME IN THIS ANYMORE SOURPUSS!
    Anonymous

    Answer by Anonymous at 12:51 PM on Jan. 8, 2009

  • Until Cafemon tells me to go I will stay here. You are of course one of the sourpuss anon posters too.lol
    Anonymous

    Answer by Anonymous at 1:15 PM on Jan. 8, 2009

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