I could use some advice. This morning, I received an alert about an overdraft transfer that cleared out my savings. Upon checking my checking account to investigate, I found that it was actually in the positive, including the overdraft amount, which totaled the amount of my savings ($150) plus my previous balance. Surprisingly, my account was never actually overdrawn. This is a new experience for me, and while I know I can transfer the funds back, I’m unsure about keeping the account after this incident. Has anyone else encountered something similar?
1 Like
Perhaps a bug with the midnight banking upgrade. Alternatively, it could have been an authorization that caused a brief negative balance. Certain self-serve petrol pumps need a $75–$150 pre-authorization. Alternatively, perhaps a retailer overcharged you and then adjusted it.
Alternatively, there might have been an error (i.e., the incorrect account was debited) or fraud that was discovered too late to stop your account from going overdrawn. It’s worth asking what happened when you call your bank. I hope these prove to be useful.
Leave the money there for a few days in the interim before transferring it back. Pay attention to any fees. Request a fee waiver if you are charged.
Hi Mary White… It’s definitely unsettling to see an unexpected overdraft transfer clear out your savings. First, contact your bank to understand why it happened and check your account activity for any errors or unauthorized transactions. Ask about their overdraft policies to avoid future surprises. Since your account balance is positive, transfer the funds back to your savings and keep an eye on your accounts for a while. If you still feel uneasy, look into other banks or credit unions with better security and customer service. Sharing your experience in forums can also help you gauge if this is a common issue with your bank. Based on what you find, decide whether to stay with your current bank or switch to a new one.