Anonymous asked in Business & FinancePersonal Finance · 3 weeks ago

Any ideas on how to stop over drafting my checking account ??

My understanding is if I use my debt card where I need to enter the pin number and before 9.00 pm my local time. The transaction will appear the same next day maybe two. So if I have $100 in my checking account, I go spend $30.00 at Target on Monday before 9.00 pm. The transaction will be seen by me if I check my online banking by Tuesday or Wednesday.  

The issue I am having not every place gives the option to enter my pin number. I got Burger spend $14.00 swipe my debt card. I tend to forget until it finally appears as a transaction which can be up to five days later. Issue is five days latter I may of forgotten then my account gets overdraft.   

My opinion swiping my debt card or entering the pin the transaction should be immediate and I should see it the next day. Is it designed that way I tend to think to ripped people off.

Yes I can go by an atm but not one always readily available. I am on public transportation I don't always have time to find my banks specific atm. I go to a different banks atm then they charge me from $3.00 to $6.00 to withdraw.

13 Answers

  • L
    Lv 5
    2 weeks ago

    STOP spending more than what you have in your checking account.  Most debt card purchases are AUTOMATIC and deducted instantly.  Plus, STOP using different bank ATM's.

  • 3 weeks ago

    Revolut has finally come to tne US! 

    They offer free withdrawals in the US, and internationnaly.You could open an account with them. Thank me later.

  • East
    Lv 4
    3 weeks ago

    Good grief- you are an adult and you are capable of keeping track of how much you spend.  It's up to you to ensure that sufficient funds are in your bank account.

    How to ensure that you stop overdrawing your account?  Get a notepad and write down your expenses so that you don't overdraw it.

  • 3 weeks ago

    You absolutely HAVE to write down every single transaction you make with your card. 

    This is how I was able to avoid overdrafting:  Whenever I made a transaction, NO MATTER HOW small, I wrote it down--and instead of subtracting the EXACT amount, I rounded the amount up to the next DOLLAR amount. For instance, if you buy something for $3.01, you SUBTRACT $4--not $3.01.  That way you have an automatic "cushion" of 99 cents.  Do this for EVERY transaction. BUT MAKE SURE you write down the exact amount--simply SUBTRACT your rounded up amount. 

    Always make sure you subtract your fees too--don't forget them. 

    And the best way to avoid overdrafts?  never buy anything you don't have the money for--don't try to "beat" the deadlines or grace periods. If the money isn't there, you DON'T SPEND IT. Period. EVER. You have to have some personal discipline. Overdraft fees are ridiculous and can quickly deplete whatever you have. So just don't BUY stuff you can't pay for. 

  • How do you think about the answers? You can sign in to vote the answer.
  • 3 weeks ago

    Keep current track of your expenditures in a checkbook register that a bank will give you for free. Carry more cash. Get a credit card.

  • 3 weeks ago

    First, stop using your card at Target.  Get their "red card".  They charge 5% if you use their "red card" than if you use your debit card.

    Second, write down what you spend, or keep track on your phone, so you can see what you have forgotten.

  • Eva
    Lv 7
    3 weeks ago

    There is a third party involved in processing debit and credit cards. The transactions do not go directly from the store to your bank. That's why they take 2 to 3 days to process. Some processors are faster than others. It's your responsibility to keep track of your spending, not the bank's. You should have the receipt from each transaction, so it shouldn't be that hard to follow.

  • Anonymous
    3 weeks ago

    Sadly, our high schools don't teach basic finance and budgeting.  You are supposed to be using your checking register even with a debit card and balancing it regularly.

    Instead, by being in a hurry (and lazy) you are literally throwing money away.

    Insist on a receipt for everything you buy and stick them all in one spot, even if it's a pocket.  Have a place at home where they all go and while you're watching TV, put them all in your register.  Do the math and figure out where you stand.  Obviously you are spending more than you earn plus the huge loss in overdraft fees.  Isn't your money important to you?

    Now if you really want to get smart, set up a spreadsheet, record everything coming in and everything going out by category.  That's called a budget and that's how you will find ways to save money instead of giving it all to the bank.

  • J
    Lv 6
    3 weeks ago

    It’s up to you to keep track of how much money you have. Why not just carry cash instead so there’s no need to keep track of every $5 purchase. It’s much easier and cheaper to take $100 from the ATM for small purchases than to charge them all and get an overdraft fee. When you use cash, you know exactly how much you have and you can’t overspend. Just keep in mind some businesses charge fees for debit purchases. If you run it as credit, you usually won’t get charged. 

  • Anonymous
    3 weeks ago

    Get a credit card. Problem solved.  I do not use debit cards. 

Still have questions? Get your answers by asking now.