The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/this-doesnt-guarantee-that-a-withdrawl-will-not-29703737.aspx

Subject:  Re: Should I be looking for another CU to bank w Date:  12/3/2011  9:16 PM
Author:  Fuskie Number:  303823 of 312214

This doesn't guarantee that a withdrawl will not result in an overdraft. Only the current balance can be checked. There is no way for the bank to know if there are checks outstanding or if other transactions are pending.

My understanding from OP's post was that it was the ATM withdrawal that led to the overdraft, not a subsequent debit. Certainly if OP was playing it so close that they were within just a dollar of overdrawing the account, this was an accident waiting to happen. But what I understood to be the case was that had the ATM checked the balance at the time of the withdrawal, it would have been able to warn her or reject the transaction.

Fuskie
Who is not disagreeing with the point - when you play it that close with fire, you are eventually going to get burned - just that it is what the OP was talking about...
Copyright 1996-2018 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us