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Overdraft
Former Member
Posts: 1,876,323 The Mix Honorary Guru
Haiii
So I ordered something that cost £5.11 and I realised I only had £4.99 in bank but the order went through...Have I just put myself in overdraft?..does the overdraft just go for the amount I went over by...or is it like...a lot? im confuzzled..
So I ordered something that cost £5.11 and I realised I only had £4.99 in bank but the order went through...Have I just put myself in overdraft?..does the overdraft just go for the amount I went over by...or is it like...a lot? im confuzzled..
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Comments
I've worked for a few banks in recent years and the bank charges and overdraft system was similar and shocking with all of them - they really do look for the smallest slip up to whack on bank charges. Some of the time it's unclear to even the staff and managers why customers have incurred charges. I'm not saying that to scare you, just to hopefully help you and other people not get charged in the future. I didn't know any of this before my job and a lot of it seems dodgy. The top 'mistakes' customers make and pay for:
Thinking a card will automatically be declined if the money isn't in the account - It most likely won't be, especially if you're just a few pence or pounds short.
Not having enough money in an account to cover payments at the start of the day, but knowing wages are going in later on, so they won't get charged for going overdrawn - A lot of banks still insist sufficient money is in your account the day before payments are due to be taken out. This can look confusing on bank statements and some online banking, because it doesn't show account activity in 'real time' and credits (payments in) tend to show up before debits (payments out).