B asked in Business & FinanceCorporations · 1 decade ago

Can a bank charge a $35 overdraft fee for two transactions when the first had one had enough funds to cover it?

I made a debit card purchase for $400 dollars on Monday, and an ATM withdrawal for $300 on Wednesday. I checked my balance to see if the $400 dollars came out of my account, and it was deducted from my balance. Days later I took $300 out of the ATM which I knew would cause me to incur an overdraft fee. I called the bank after I received two notices for two overdraft charges of $35. I was told the first transaction was put aside in a pending status. And when the second ATM charge was made that withdrawal created a second overdraft. If my first debit transaction was pending and funds available. How can I be charged for it as well.

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  • ?
    Lv 7
    1 decade ago
    Favorite Answer

    One overdraft fee is for the second transaction itself, and the other fee is for creating a negative balance. I have opted out of overdraft protection because of the way banks post transactions, regardless of the dates you do the transactions, and because of their unscrupulous fees. I just pull cash out inside the bank instead of using a debit card so I can keep track myself.

  • Anonymous
    1 decade ago

    they do it all teh time - I got whacked with over $200 in OD fees at one time once

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