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Q & A

Should financial institutions allow bank charges, debits and or checks be processed when there are not enough funds available to pay?  

I ask as I have been “robbing peter to pay paul” and that has only cost me more money I don’t have, yet the bank is making money off of me, regardless.

Just wondering what you all think?

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    • 0 votes vote up vote up

      Mary Clark wrote Mar 16, 2009
    • Annie...if banks didn’t charge those fees...people would be riding THAT system daily.  The bottom line is...if you don’t have the money in the account...then you don’t write the check and you don’t use the debit card.  There is not anyone sitting there watching every single account and saying:  oh Mr. Smith doesn’t have any money today but we will let it slide and pay the check but not charge him a fee.  Next day..Mr. Smith does it again...and again..and again.  He is riding the system.  

      You have to be responsible for yourself.  It is your responsibility to keep a register..and know what you have in your account.  It’s not the banks.  If you overdraw....it’s your fault unless you have fraudulent activity that you are not aware of.  Then your financial institution should be assisting you there.  

      If you use your debit card...those charges are automatically paid but if the money isn’t in the account at the time the card is actually “SWIPED“.. then you are going to get charge an NSF fee.  You can’t beat a debit card purchased.

      Also...not sure if people know this...but do not use your debit card for car rentals, airline tickets, or hotel reservations.  Those (3) can hold on your account up to three times the amount of the charge.  It’s legal and they can do it.  Even if you use your card to make reservations...and then when you get to your destination and pay cash for your hotel...they will still place a hold.  When that hold goes on..it makes those funds unavailable in your account.  If you wrote checks before you left town and you‘re thinking that money is in your account to cover those checks...it might not be depending on the amount and what you have in your account.  

      So be careful...use a credit card for those three things.




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    • 0 votes vote up vote up

      Tuliplady wrote Mar 16, 2009
    • I don’t mean to sound unsympathetic here, because I know all too well what you‘re going thru, but... it’s not the banks fault there is no money to pay the charges.  If the money isn’t there, the account shouldn’t be used.




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    • 0 votes vote up vote up

      Mary Clark wrote Mar 16, 2009
    • Annie....I did not say that you were irresponsible for trying to take care of your child.
      You asked a question: Should financial institutions allow bank charges, debits and or checks be processed when there are not enough funds available to pay?  

      I was answering that question in a basic format.  You did not mention in your question about keeping the electricity on and paying for rent, food, gas and auto insurance.  

      I understand completely what you are going through but you cannot expect a “bank” to carry you through all of that...even as bad as it is?  If you are doing that...then essentially you are being given a “loan“.  With a loan you pay interest.  Those fees are your interest.  

      No you are not wrong for taking care of your child but I was just answering your question Annie. If I were you so that you do not throw anymore money away on fees...I would ask the electric company for some assistance....and all of the others.  If they will not help..then I hate to say it...but maybe you should check out the shelters or maybe a “home” for single parents until you can get back on your feet.  You have got to get some help and some relief.  What you have been doing is getting you no where and in return...you are not helping your child in the long run.  You have to jump off the merry go round you are on.  

      I’m sorry you are going through this very bad time, but you have to get some help.




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    • 0 votes vote up vote up

      Mary Clark wrote Mar 16, 2009
    • What charges are you incurring daily for it not being used?  I dont’ get that.  Monthly service charges?




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    • 0 votes vote up vote up

      Mary Clark wrote Mar 16, 2009
    • Have you tried making an appointment with the branch manager?  

      I can tell you that a credit union wouldn’t do that to it’s members.  I work for a credit union and I would never allow that to happen to one of our members.  And we would allow you to make payments and we would not charge you daily.  

      When you get out of this mess...pay that bank off and move your money to a credit union.  

      I’m glad you got the assistance for the electricity.  If your ex isn’t working how in the world is he going take you to court to claim you unfit when he isn’t even paying child support?




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    • 0 votes vote up vote up

      Doreen XoXo wrote Mar 16, 2009
    • Should financial institutions allow bank charges, debits and or checks be processed when there are not enough funds available to pay?    

      Annie..I have a question for you. Would you rather have the bank not process your debits and pay your checks??  You are basically borrowing the banks money.  If they didnt process those debits to your account, your electric and such would have been shut off.  In retrospect, you really should thank the bank for going ahead and paying those charges on your behalf.  You really should‘nt be angry that they did.
      IMHO

      xoxo




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    • 0 votes vote up vote up

      Doreen XoXo wrote Mar 16, 2009
    • Im not saying you are wrong for what you did.  Im saying you should not be angry that the bank charged you service fees and such.

      xoxo




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    • 0 votes vote up vote up

      Mztracy wrote Mar 16, 2009
    • why exactly can’t you apply for assistance if you have no income?

      We as people cannot do that nor should we. Sadly banks do rip us off over and over again. But, if we overdraw an account where we know the money is not available, that is on us.




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    • 0 votes vote up vote up

      Mztracy wrote Mar 16, 2009
    • If you are not getting the proper amount, then he should be in jail for this.
      How long has this been going on, as the case worker should have helped with all of this.
      You need to make an appt. and go into the ss offices or welfare offices.  

      And no one has a couch to spare?




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    • 0 votes vote up vote up

      Jenz ~ wrote Mar 16, 2009
    • I don’t know what to say really, that hasn’t been stated already. Yes, of course banks have to charge fees as such. If they didn’t, everything would be so out of order and taken advantage of, they’d likely close.
      Back to the present, there has to be something you can do to make money or get some help.
      1. Local human resources department or welfare assistance of somekind..
      2. Local Salvation Army is giving rent vouchers for $250.00 to each adult in each renting household who has lost their jobs.
      3. Food bank
      4. Bartend. Waitress. Online business. Beachbody coaches and Mary Kay reps get started with a downline for less than $100.oo (Just some ideas)
      5. Babysit (any shift. Place an ad in the paper or make flyers & plaster them all over the place- local grocery stores, everywhere.)
      6. Clean houses
      7. Do whatever it takes honey. You HAVE to.

      GOOD LUCK!!
      ps- I know alot about having to do what you have to do in times like these. I don’t even WANT to open my power bill. I’m scared of THAT in 2 weeks. I can’t catch up with the damn thing- I have a daily stomach ache over it. HOWEVER, I’ll play beat the calendar with it 24/7 & pray for the best. I may very well be someone who has to ask for help & I’m very bad at that. Anyway, I’m sure I’m far from the only one freaking out over the electric bill being that so many are fighting to keep their homes and bills paid for.
      THINK. What are you willing to do? CAN‘T is not an option. You CAN. Now go do it girl. Best of luck!




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    • 0 votes vote up vote up

      Mary Clark wrote Mar 16, 2009
    • Hey...the church you belong to...do they have a building?  Why couldn’t you stay in the church?  Live in a sunday school room.  They have bathrooms...you could use those and then ask family if you could shower there.  This just gave me an idea.....

      Call your pastor..ask him if you and your son could stay at the church.  Like I said...if your church as an actual building.  It would be a safe place....and a roof over your head.  At least until you could catch everything up and regroup.  Is there not a place locally that reaches out to help people in  your situation?




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    • 0 votes vote up vote up

      Mary Clark wrote Mar 16, 2009
    • And go talk to the bank branch manager to see about setting up payment arrangements.  Go over the person’s (you talked to earlier)...head.  If you can just get the daily fees stopped.




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    • 0 votes vote up vote up

      Mztracy wrote Mar 16, 2009
    • for your seizures...can’t you get on anti-seizure meds? My fil’s fiancee’s daughter has seizures and the meds help 100%




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