Anonymous
Anonymous asked in Business & FinancePersonal Finance · 1 month ago

Would you not get an overdraft fee if you put in money right away after it has been overdrawn ?

10 Answers

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  • 1 month ago

    As if this people are kind in front?Ever after?!

  • 1 month ago

    It depends on the bank's policies. Some banks have a 24 hour grace period where they will not charge overdraft fees if the money is deposited to cover the overdraft within 24 hours--and some DO. You have to ask the particular bank involved. 

  • 1 month ago

    You are given either until the end of the day or when they designate the time they assess overcharges.  So, right away - no, there won't likely be any overdraft fee.

  • 1 month ago

    You could still get charged an overdraft fee.

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  • Anonymous
    1 month ago

    Depends on the bank. One account I have, I accidently overdrew it so I quickly transfered money in the same day. That bank said there was no fee unless I ended the day negative.

    Most transfers take a full day but my broker does them in 4-5 hours if you do it early in the day.

  • Erik
    Lv 7
    1 month ago

    It depends.  If it's an online charge, which almost everything is these days, it will say "processing" or "pending".  In my experience you have one day to put money in your account.  Then you won't get the fee.  If it's a check, however, the second it hits your account, you will be charged the fee immediately.

  • Judith
    Lv 7
    1 month ago

    You'd have to ask your bank about that.  My bank would still charge me an overdraft fee because I didn't have the money in the account to cover a withdrawal at the time of the withdrawal.  My bank also charges an additional fee each day the account is overdrawn so if I overdrew on Monday and covered the amount on Monday + the overdraw fee, I would only be charged with one fee for the overdraw.

  • Barry
    Lv 5
    1 month ago

    Some banks do allow a short period of grace. May I suggest that you discuss an authorised overdraft arrangement with your bank? Most banks are happy to agree to this and you needn't use it unless you have to. It gives peace of mind when you are strapped for cash. I have an agreed overdraft for £2500. I never use it but it's there just in case.

  • 1 month ago

    Too late, Kate.......

  • danxp2
    Lv 6
    1 month ago

    That would depend on the bank's policies but very likely yes. You might be able to get them waved if you ask customer service. 

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