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  • DD overdrew her checking

    She likes to use the debit card,she is 19, she looks on line every few days and thought she had money. Seems she used it at a resturant but they didn't post it until a week later. She thought everytime you use it, it comes right out of acct. Off to the bank we go, since she did that she also took cash out, still thinking she had money so twice overdraft fees of $34 each=$68. The bank told her sometimes it takes longer for them to take it out of accts because places don't post it right away. Told her to write everything down on her register for her own records, so nice they waved the fees so she only pays for the overdrawn part. They said first time they wave it. Since she is a student she has now a student checking & savings. If she does this again with the debt card then the automatic take it out of her savings with a $10 charge. She got so scared thinking she had to pay all that money. I hope she learned something. I learned first time they wave it plus $34 overdraft, WOW. Teller said next month it goes to $35. I haven't wrote out a bad check in 35yrs, only did it once & never again for me. Anyone with teens with checking ask about student accts. Penalty is cheaper. I hope she never does this again.

  • #2
    Re: DD overdrew her checking

    That's the way they learn. I hope you never pay her way out of things because that will be the last time she truly tries to balance her checking acct.

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    • #3
      Re: DD overdrew her checking

      Allie, I don't,these kids want it all with min. wage. I told her to keep her own records. I was suprised they waved it. I don't do things like this. She was so upset & crying. DH found it out first then he was talking to co workers, they said go to the bank. Next time they won't do it. Seems co worker had the same problem with her son. Just want everyone to be aware with their teens. They think nothing of stopping & getting fast food and it adds up. We got better food at home. Learn to save money, that is why you are working. I had frugal parents, I'm cheap too. She has been working for 1 1/2yrs now never had a problem, also get those student checkings & savings. Banks try to work with the students. Just want everyone to be aware and if it happens to them the bank waves it the first time. I didn't know this.

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      • #4
        Re: DD overdrew her checking

        I know what you mean. My dd got in trouble with credit cards and I kept telling her that she didn't need all the things she was buying. She's still trying to pay those cards off and it's 2 years later. She has learned though. She hates to go shopping now.

        I didn't bail her out and she had to move to get a higher paying job.

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        • #5
          Re: DD overdrew her checking

          Roset:
          I just want to know where she is banking??? I work for Wells Fargo and they really do take care of the kids. I will tell you it is important that they keep a register of what they spend. Yes it does take up to 1 week for it to post to there account and if they use it for gas they only charge 1.00 that is to authorize for them to use it so it may not show up for up to 1 week. If you or your daughter have any questions please pm or let me know I would be HAPPY to help. I get these kids in everyday and they just don't understand how it all works and just feel so bad for them. Yes it is a learning how to manage but I don't that at 34.00 that works...

          Food gal

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          • #6
            Re: DD overdrew her checking

            I know, I did a few times with a few bucks to bail her out in between pays but told her she has no credit in this house. I have loaned her money & she did pay me back. July she does get her rebate check from the gov. I will say she was so scared today, I said customer service & you explain this, they had a bowl of taffys and she knocked it over, they went all over the floor, of course she couldn't put them back in the bowl so she stuck them in her purse. She really was a nervous wreck, I'm glad she was. How you manage money is a huge part of life. You got to understand. Live within your means & always save some money for those days that you need it. I think it got threw to her, she had to sit down with the bankers, they explained it so nice, keep your records, don't go by what the computer says. Just glad she got scared, some kids don't care.

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            • #7
              Re: DD overdrew her checking

              Food Gal, it is Wells Fargo, we got so much in that banking, they were so nice & was so happy. They really were so wonderful, knew she got scared, I was so happy how they handled her. She got so scared but they told her so much and how to handle her little bit of money. I tell her all the time, but since we went there she listen, never to me, but she was listening to them, they all in the mid twenties, and they laughed. Wonderful people, she did listen, I was screaming then calmed down but you know those kids don't listen, Wells fargo was so good at explaining it all to her. She is a good kid & this really got her upset. Gave her a little purse book to write it all down & worked with her. I worked at a bank for 9yrs so I know this stuff, tried to tell her but now she got so scared & is going to keep her banking up to date. I will be on top of her to make sure she keeps records. Wells Fargo was wonderful, can I go to website & say how much I loved the way they cared? These people were so nice, I got to give them some kind of praise.

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              • #8
                Re: DD overdrew her checking

                I have to be careful too about using my debit card, because there are many places here in Virginia that hold a $25.00 fee for 3 business days for each debit card transaction. If I use my debit card 4 times in one day, my account MAY have $100 less available funds in it than I think it does. Problem is, the places that do hold the $25.00 fees never post it anywhere, so you never know what merchants are doing it. The only way I know is to check my bank balance online every day. There it shows a checking account balance and also an AVAILABLE checking account balance. If I have used the debit card within the last 3 days, the "available" balance is always less than what I actually have in checking. Ridiculous!
                Last edited by cottun; 06-21-2008, 11:08 AM.

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                • #9
                  Re: DD overdrew her checking

                  i helped my daughter once as well then told her she was on her own after that..she also paid me back and had never bounced anything since
                  I'm Not Bossy, I just have better ideas

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                  • #10
                    Re: DD overdrew her checking

                    Roset-
                    Good to here that they were very helpful. I know it's hard for the kids my oldest son 27 is still learning..I would call the customer service on the back of your atm card and let them know that they were very helpful. You know working in the banking bussiness how hard it is but I will say working for Wells Fargo they really do help there customers even this is hard times everyone is going through.
                    Food Gal

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                    • #11
                      Re: DD overdrew her checking

                      Just get overdraft protection on your checking accounts, will save you from any fees. My teen sons have that, its a small line of credit, $500, and it drops in at $100 a time if they go negative, charges you interest daily so you want to get it paid as soon as you see its been used. Luckily, neither me or my sons have ever used it, but its sure nice knowing its there.

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