A similar event happened to me once when I tried to take $100 from an ATM during a lightning storm. As the ATM processed my transaction the power went out. According to my statement, the money was withdrawn -- but obviously I didn't get my money. And this was on a Saturday, of course.

Come Monday I was able to verify with the bank that the ATM balanced at $100 over, so I was able to get my money back in my account by the end of the week.

Well I think banks usually aren't in a rush to do things in your favor...but when it gets them extra $$, youd be surprised how fast they work. I just pay everything I buy with my check card. Hate checks and carrying cash and Im usually pretty good about remembering what I bought and how much it cost and wait for it to go through on Wells Fargo webpage.

Case in point: In December, we overspent on going to MN to see family and all and in January...we got hit with 7 overdrafts in one day! 30 bucks a pop! Never once did they try to call me and only when I logged onto the webpage did I find out what happened and was really ticked theyd let me keep spending money even if I dont have any. Id much rather face an embarassing "sorry sir, declined...shot down' message than a bunch of overdrafts.

Of course, then we put money from a few checks in the bank this spring...forgot where the checks came from. Some cleared right away, while others were put on a hold for about two weeks. Never had it happen to me before and when I called to ask questions, they couldn't really give me a good answer why they were not accessable.

I'd rather get a declined message too, but that's not how it seems to work.

Actually, every time I get overdraft fees I go into the bank and make them give me one back.

Then I swear up and down I'll keep a ledger from then on, but so far that hasn't happened... and everytime I go in, they tell me to stop spending money I don't have. They're right.

Musta been out of state checks. They didn't want those checks coming back and you getting screwed. It was for your own protection.



And Wal-Mart isn't the same way? Gimme a break. I've long since grown tired of everyone shitting on banks because they just don't know how financial institutions work. You have no idea what kind of silly federal regulations a bank is subject to, you just see effects you don't understand and feel content to bitch about it rather than educate yourself as to why things are the way they are.

Oh well. I've given up a long time ago.

They're too nice. After the first refund, you really don't deserve any more.

I understand most of the fees, SC, actually. WHat I would like to see banks begin doing is refunding a percentage of overdraft fees if the overdraft is settled within, say, 72 hours. Overdrafts cost the banks a ton of money, and most people I know just avoid their bank until they can afford to settle up. With a partial refund, I believe banks would have more overdrafts reconclied in a shorter amount of time. ANd it would certainly be a help to those honest folk whose overdrafts are due to stupid accounting, rather than complete irresponsibility or deliberate fraud.

I'm glad things worked out quickly for you.  If it had been me, with my luck, it would be months before I got the money back with me needing the money right away.

My solution is to just not have a bank account.

Can't overdraft if ya don't have an account. I usually just draw my money off my fuel card by cashing a Comcheck at a truckstop, but sometimes an ATM will do if I'm not close to a truckstop.

I pay cash for all purchases except online, and then I use a prepaid Visa. I load the money on, make the purchase, costs me a buck, and I'm done. Impossible to overdraft the card as it will decline if there isn't enough cash on it.

Cash is easy to track. When the wallet is empty I know I'm out of money. I've never overdrafted my wallet.

SC, banks are like lawyers, everyone uses them from time to time but they're still fun to bash. Just remember, 99% of banks give the other 1% a bad name.

Yeah I think that's why they passed the legislation forcing them to settle more quickly. 10 days can still be a long time if you're tight for cash but beats the hell out of 60.

I think that's a splendid idea. I'll talk to the president of the bank about that as we plant trees in the yard tonight . . .

I had not heard of that law change, but it is a good sign of the times.  I am sure the old one reflected the paper transaction system that has gone by the wayside in favor of the electronic system that can be resolved in hours, days at the most.

Glad it worked out for you.

Yeah, I'm sure there's some basic reasoning behind it, but for whatever reason they decided to make the bastards pay up sooner.