Anonymous
Anonymous asked in Business & FinanceCorporations · 1 decade ago

Wells fargo bank negative balance?

I had to pay for school today or they would kick me out of my classes. I put my check in the bank saturday night when I got it and of course it wasn't cleared by today but it was in the bank and usually the school transaction takes about a day or two. So I paid with my debit card and I went online just to check and of course it went through right away and now I have a balance of -210 in my checking account and 0 in my savings. It still shows the money I deposited but its not my "available" balance. I was wondering if anything is going to happen to my account. I'm going to be so pissed if I get an overdraft fee since the money was in there just not cleared but usually when I get an overdraft fee it emails me right away and I have no emails. I was just wondering if its okay to do that or if something might happen to my account?

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  • Anonymous
    1 decade ago
    Favorite Answer

    Yeah, they are going to hit you with an overdraft fee. They allowed your debit card transaction to go through, but as you noted, the deposit has not yet cleared and was not yet available for use. Hence, you are in overdraft status and are charged a fee.

    Banks don't do anything on weekends. A deposit made on a Saturday may not clear until the following Monday or Tuesday. It's kind of a shady banking practice to allow debit card transactions to clear even if there is NSF in the account, but most banks do that nowadays and Congress doesn't seem to have any problems with that practice.

    Nothing will happen to your bank account so long as it goes into a positive balance status soon. If it stays in the negative for over 30 days, the bank will probably close the account and sell it to a collection agency.

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    If you don't have a history of overdrafting your account, you could TRY calling the bank's toll-free number today (they probably have some 'personal bankers' answering phones today). BE POLITE and explain the situation, and they MIGHT reverse the overdraft charge. I've done that before. The key, as I said, is to BE POLITE, not argumentative. Politeness goes a long way in the business world. Anger doesn't.

  • Andrea
    Lv 4
    5 years ago

    They will pump it up, and then charge it off - selling the account to a third party collection agency who you will then get hassled with. Here's what you do bro... When you get the first letter from collections - dispute it within the 30 day period and tell them to provide you will all evidence that you owe that money... how they came up with that amount... cite the "fair debt .. something or other... reporting act... and you will never hear from them again. EDIT: Easy Do... I'm charging you a 6 dollar service charge with daily compounding interest, please pay up or I will contact all major credit organizations.

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