Insufficiant fund fee on positive balance

[ibcurious]

What is the name of your state? AL
I used my debit card as credit the day before my direct deposit from my employer went in. I knew that the three transactions wouldn't clear until after my deposit went in (the amount in that account at the time couldnt cover them). So in my statement I have a positive balance as of close of business on the 3rd (the day before my deposit), but have three overdraft fees ($32.00 each) show up the next day. They charged them to my account even though the transactions hadn't cleared yet. This just doesn't seem right...is it legal for them to charge me for something that hasn't been taken from my account yet??

 

[lwpat]

"debit card as credit"

You did not write them a check, you used a debit card. A debit card is an automatic withdrawal from your account. I'm surprised that the transactions went through. Try getting overdraft protection if it is even available on a debit card. I don't use them for this very reason.

 

[Ladynred]

I use my debit card for everything. I rarely carry any amount of cash with me any more. Overdraft protection most likely IS available, it is at my bank and mine is a very large bank. Its definitely worth doing. At $28 a pop for overdraft charges vs. a $5 for the overdraft protection, if its needed, it'll save you a LOT of money. My overdraft protection is linked to a savings account.

 

[kam2051]

Even when you use your debit card as a credit card, if the vendor sent in the receipts that day on the authorization, it will go through (most grocery stores do this immediately; others, such as my business, send anything that has been received up until 3 pm that day). In addition, authorization on a debit card, even when used as a credit, WILL deduct from your available balance on your account.

 

[ibcurious]

Wow...i guess it seems kind of dumb now. I've never had my account go this low before and just noticed that debits and stuff clear the day after they're used. Those transactions didnt clear until after i had the money in the bank so it seemed rather strange that I was charged overdraft fees for them. Thanks for replying....and yes...I will get overdraft protection now just in case.