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2 Bumps

Bank question

I was suppose to pay my mortgage company on the 28th however we haven't been paid so I can't put the funds in the bank yet. I don't own a check book I do everything by debit card. The bank is charging me $50 can they do that? The mortgage company tried to get the money that wasn't their. Should I go in and talk with my bank and ask them why their doing that?

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Anonymous

Asked by Anonymous at 9:26 PM on Apr. 4, 2011 in Money & Work

Answers (7)
  • Are you doing automatic draft for your mortgage? If so, then you gave them access to your bank and authorized them to do what they did. As far as whether the bank can charge you $50 or not, the laws changed recently, so not sure on that. Talk to them.
    Mom_2_cuties

    Answer by Mom_2_cuties at 9:28 PM on Apr. 4, 2011

  • Okay I will just go in and try to talk with them,already having financial difficulties.
    Anonymous

    Comment by Anonymous (original poster) at 9:31 PM on Apr. 4, 2011

  • I know that Obama changed the way that banks can do things so banks are finding anyway they can to make up for the NSF fees that they aren't supposed to charge anymore. I know I saw one night on TV that some banks have cut back on the grace period that you are allowed to make your house payment. If you signed up for automatic payment for your mortgage, then the bank is probably trying to charge you for trying to make payment on funds that aren't there. I'd call the bank & see what they are for & dispute them given ur financial situation
    bethany49

    Answer by bethany49 at 9:43 PM on Apr. 4, 2011

  • Sounds like you are paying insufficient funds fees. It isn't the banks fault that you haven't been paid. If your morgtage is set to be auto deducted from your bank account then they can and will charge you fees if the money isn't there.
    bcauseimthemom

    Answer by bcauseimthemom at 9:44 PM on Apr. 4, 2011

  • Mom 2 cuties is correct--if you set it up for automatic payments, you gave the mortgage company permission to get the money.

    Sometimes a bank will forgive the 'non sufficient funds fee' if it was the first time it happened. I know when I accidently did this my bank returned the charge after I went in and talked to them about it. It won't hurt to ask.
    layh41407

    Answer by layh41407 at 9:44 PM on Apr. 4, 2011

  • Overdraft fees

    mamaofficer

    Answer by mamaofficer at 10:28 PM on Apr. 4, 2011

  • Maybe you should also ask for a list of fees, and for some basic description as to how a checking account works. And start keeping a register.
    Anonymous

    Answer by Anonymous at 11:03 AM on Apr. 5, 2011

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