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How long can a bank wait to charge you overdraft fees? Isn't there a time limit??

On November 11th I overdrew my account but didn't know it. I put a check in the account but it didn't clear in time.

Wednesday, they charged me the OD fee and didn't notify me. I spent more money not knowing that the fees went through.

Can they do that? Now I am overdrawn over $300 because I didn't know they put these fees on 8 weeks later when they never notified me I was overdrawn in the first place...

Answer Question

Asked by Anonymous at 7:12 PM on Jan. 2, 2010 in Money & Work

Answers (11)
  • I would talk to them about it. That's stupid and ridiculous that they would do that.

    Answer by SaraP1989 at 7:14 PM on Jan. 2, 2010

  • You should call your bank or even go there. Explain the situation to them, they "can" take the fees off, if they really want to. I did the same thing over Christmas, I mean I really did overdraft and they charged me $150 in fees!! We talked to them ,they said they had a $70 good faith one time a year credit they could give least they should give you something back!

    Answer by robyann at 7:37 PM on Jan. 2, 2010

  • They can do that, it sucks but they don't have to notify you before they do it, it's your fault you were overdrawn not there's. They will reverse a couple if you haven't had a problem with this before, just go in and talk to them.

    Answer by Anonymous at 8:26 PM on Jan. 2, 2010

  • OP here - Actually it was there fault I was overdrawn in the first place. I put my paycheck in the bank on a Monday and they didn't actually put the money in my account until Wednesday... That is the reason I overdrew in the first place. I cashed my check and wrote out bills... The acct overdrew... Then they waited 8 weeks to charge me and never let me know, now I am overdrawn again...

    I hate banks!

    Answer by Anonymous at 9:13 PM on Jan. 2, 2010

  • not their job, its YOUR to keep track

    Answer by Anonymous at 9:19 PM on Jan. 2, 2010

  • OP Here - My dear anon - I DID keep track! They held my check longer than they are supposed to... That's what set off the first overdraft, my books are all on board, how was I supposed to know they were going to hold my check so long? When I put my paycheck in the bank I expect the money to be there... How could I know they would keep it for so long?? So, yeah, it was their job and they didn't do it!

    Answer by Anonymous at 1:19 PM on Jan. 3, 2010

  • They don't have to deposit your check the day you deposit it, they can wait until it clears!!!! Hello! Still your fault not theirs! Any idiot knows you don't spend money until it is actually in your account! hey can do whatever they want and if you read their policy it probably says they will hold checks.

    Answer by Anonymous at 2:10 PM on Jan. 3, 2010

  • yep they can and they won't help you this is why I got rid of banks all together credit union is the best way to go I only put enough in there to cover the bills after that I use cash and I don't pay the bills until it shows the money is posted..not pending!! so I agree it's your fault!! you should have made sure the money the money was available to use before paying or buying one thing...most banks wait until the check clears it's policy they have to and you should have known have to make it your responsiblity to know those kinds of things...I had nothing but trouble with's hard to keep track of every little penny especially when somethings take days to come back and longer than others and sometimes things fall off so you think you've gained money when you really haven't..some good advice is to cash you check elsewhere pay a small fee deposit in cash and it will immediatly be put in your account to use..

    Answer by Anonymous at 2:38 PM on Jan. 3, 2010

  • OP Here: How are you supposed to know when a check clears? The sign at the bank says that ALL deposits placed before 4 PM are available SAME DAY!! Anything after 4PM is available NEXT DAY! They held my check (that was deposited before 4) for 48 hours. And there is no way to know what is "pending" unless you want to go to the bank and check with them every day until it is through... Who has time to do that?? What is the point of a bank if they aren't going to give you your own money??

    Answer by Anonymous at 7:02 PM on Jan. 3, 2010

  • do you have online banking that usually shows ur account activity and it shows the pending and the posted it can take upwards of a week to ten days

    Answer by Anonymous at 11:27 AM on Jan. 4, 2010

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