Know anything about banks & overdrawing accounts?

originally posted by: pryingopen3rdeye

plus overdraft fees put bad marks against your account.

banks keep record and statistics of everything including how often and average amount you overdraft, they use all these details to weight you a risk level, think 1 to 100. better your score the more they will allow you to overdraft, worse your score and they might not let you overdraft at all. they just decline the charge, so your main question of how come its less now is your bank has changed the score on your account to one of higher risk based on your treatment of the account.

you mentioned the idea of depositing a check in the account in order to fool it into thinking it has more money to let you withdraw, if you are talking about a fake check that will ultimately bounce then this is check fraud and is a crime dont do it

banks can of course choose to shut your account down at any time if they think your just to high of a risk, typically that comes after something like check fraud, or frequent card loss or things like that. but remember, banks MUST NOT allow any account to ever be overdraft for more then 60 days, its a law. if your account is overdraft for 60 days the bank will charge off the account, which essentially closes the account and puts it in collections, the banks usually try their own effort at collecting on it up to and after that time, few months down the line if its still not paid off they often send the debt to a third party collections company.

you shouldnt overdraft so often, makes you look bad in the banks eyes, when you go to see a personal banker one of the things they will check is how often you overdraft, the more frequent the less likely they will want to help you out.

This is all sound advice worth quoting for posterity, and I want to echo what Pryingopen3rdeye said about bad checks -- NEVER DO THAT. Fraud is fraud, no one is ever going to get off easy on writing bad checks, how many times do you hear about people getting arrested for doing that in any given year still? It's not merely a gamble, it's a matter of time before someone is caught, and it's not worth the felony afterward. Just. Don't. Do. it.

originally posted by: 3n19m470
Oh yeah, buddy. It works!

Usually. I never said it was the pinnacle of human wisdom. I just said it works, usually, if you really need some cash.

Robbing your neighbor also really works when you need cash..
Crime is crime and some of the ideas you have floated either are or border on on fraud.

Please tell me their isn't anyone on this thread that thinks or is supporting you in your horrible financial choice of overdrafting on purpose.

originally posted by: 3n19m470
a reply to: violet

Thank you, I think I will add window washing to my list of things I can do. I just did some yard work yesterday and was able to at least make a payment on our personal loan so they were satisfied that we came up with something for now.

Oh that's good

originally posted by: 3n19m470

originally posted by: AllSourceIntel
a reply to: 3n19m470
What type of account does she have and does she have overdraft protection (i.e. savings account or credit card linked to checking account)?

I believe it is a checking account, with a debit card linked. But not a credit card. I don't know about overdraft protection. I don't know what that is.

That's the best way, attached to the checking account.

I've had a $2000 overdraft since the 90's, I still owe a couple hundred but am afraid to pay it off, afraid they will cancel it.

If you go over your checking acct, it kicks in $300.

Then I have to pay that back to the overdraft. Usually monthly or all at once to avoid interest and other charges if applicable.

But if I need to make a payment to the overdraft and don't have enough in the checking account to make one, I just transfer another $100 to checking. lol, perpetual motion.

Look into the overdraft protection. With your friends history, they might be open to giving one.

It does cost, tho. Not bad, better than bouncing check charges.

ETA; don't get me wrong, it's an account in the states I've had forever that I keep as emergency reserve.

I may write a check once a year. I have active accounts here in HK so I'm not dependant on it. Reminds me I need to find that checkbook.

I want to leave this post to let people know that, although I was 100% honest about everything I said here, I think its still important to give a full disclosure. I've been talking about it for about a year now across ats in various postings, but I was an opiate/heroin addict for several years and this issue was due to a drug debt. Debts in general are Always very important to me. I hate owing people. Being a drug addict, taking drugs on loan from your dealer and you can't get anymore until you pay off what you owe from last time, it becomes important enough that you want to seek out any information on how to make this happen.

We had overdrawn my roomates account several times, always paid it back, but I guess they cut us off after a while.

I just passed the 2 year mark about a little over a month ago. 2 years without any heroin. But I'm still a patient at a methadone clinic. If they hadn't legalized cannabis, I don't know if I could have done what 99% kf people fail at. The methadone clinic does random drug screenings, and if you have any illegal drugs in your system, you can get kicked out of the program.

Anyway, I will probably put something on my wall eventually, but, this thread has always been in the back of my mind, so, now everyone who comes here and reads this far can know the truth. I'm sorry that I was less than upfront about this significant aspect of my life.

And thanks to everyone for participating in my growth and development as a person. It definitely counts, and you definitely matter to me.