I had $50 in venmo, which I used to purchase groceries, because my bank account is currently negative.

Instead of using the $50 in my bank account, instead, a week later the $50 came out of my bank account, not touching the Venmo balance at all.

So now I have an overdraft fee, effectively meaning I paid 1.5 times for those groceries.

I don’t have “overdraft protection,” I’ve told my bank I don’t want overdrafts to go through, but fuck me for being poor I guess.

  • Psythik@lemmy.world
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    7 days ago

    Find a bank that doesn’t charge overdraft fees. If you so happen to live in Colorado or Arizona, FirstBank is a good choice.

    Not only are there no fees for anything, they even give you the option to block your card from charging more than your available balance. Card machines will literally only do a partial payment, using whatever is left in your account, allowing you to pay the remaining balance with another form of payment. It works everywhere and is really neat. Find a bank that offers this.

  • amanneedsamaid@sopuli.xyz
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    8 days ago

    I FEEL THIS. My bank tells me its not possible to turn it off on my checking account. Blows my fucking mind they can’t just deny a tranaction if I don’t have the money even if I ask 😭

    • scytale@lemmy.zip
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      8 days ago

      Blows my fucking mind they can’t just deny a tranaction

      They can, they just won’t because of those juicy overdraft fees.

  • nocturne@sopuli.xyz
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    8 days ago

    I don’t have “overdraft protection,” I’ve told my bank I don’t want overdrafts to go through

    Typically overdraft protection means it takes money from your savings, or other linked account, and transfers to your checking. When I had Bank of America they charged me $5 every time this happened.

    I have an account at a credit union now, no overdraft charges, no cost when it pulls money from my savings account.

  • COASTER1921@lemmy.ml
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    8 days ago

    I’ve always been able to decline overdraft when opening a bank account in person. Banks argue the fee is preferable to the embarassment of having the transaction declined, but with how often credit cards flag fraud the embarrassment when it happens is practically zero.

    • TachyonTele@piefed.social
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      8 days ago

      Also, absolutely no one cares if your card is declined. They just wait for you to use a different card. If that cars doesn’t work… Oh well. If it does work… Ok.
      The “embarrassment” is completely made up.