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dt123 · 02-25-2005, 08:37 AM

You have to watch this. Our bank set up S's debit card so that if he tried to debit more than he had in the account, the transaction would go through, but he would get a $29 overdraft charge. After a miscalculation, he ran up about four of those in a row charging $6 fast food meals and drugstore purchases. We complained to the bank, and it was revealed that an option is to have the transaction simply declined if there is not enough dough in the account. We switched to that option, and the bank reversed the overdraft charges. S is more careful now.

The contrast between the way S handles his money and the way I did it "back in the day" is amusing. While S theoretically has a checking account, he never ordered any checks or deposit slips and does not have a register. He does not know how to write a check. He has his work study paychecks directly deposited, monitors his transactions and balance online, and uses his debit card for purchases and ATM cash.

02-25-2005, 08:37 AM	#13
dt123 Member Join Date: Aug 2004 Location: Texas Threads: 13 Posts: 810	overdraft charges on debit cards You have to watch this. Our bank set up S's debit card so that if he tried to debit more than he had in the account, the transaction would go through, but he would get a $29 overdraft charge. After a miscalculation, he ran up about four of those in a row charging $6 fast food meals and drugstore purchases. We complained to the bank, and it was revealed that an option is to have the transaction simply declined if there is not enough dough in the account. We switched to that option, and the bank reversed the overdraft charges. S is more careful now. The contrast between the way S handles his money and the way I did it "back in the day" is amusing. While S theoretically has a checking account, he never ordered any checks or deposit slips and does not have a register. He does not know how to write a check. He has his work study paychecks directly deposited, monitors his transactions and balance online, and uses his debit card for purchases and ATM cash.