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Bank Approves Funds with No Funds in Account
I have an account with an usually low balance and use it just for small purchases. I am not employed, and my husband funds this account in that when he gives me cash, I deposit it into this account, so as to keep up with how much I spend rather than carrying cash around. I recently received a card in the mail showing me overdrawn about $240, so I rushed to the bank with $300 and deposited it and asked for a printout. I couldn't figure out how I was so messed up. My husband reviewed the prinout for me and discovered the bank had charged me $512 in bank fees for the purchases they had approved in spite of the fact that I did not have those funds available. They just kept approving and kept charging me fees. I have asked them to reverse these charges which are excessive. How can I get them to reverse these fees? My husband refuses to give me anymore money until I get the bank to reverse these fees.
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 If the bank's deposit contract and account disclosures included those fees and indicated they would be imposed in the event the bank permitted the account to go overdrawn due to debit card purchases, checks, ATM withdrawals, etc. that exceeded the funds available in your account, the bank isn't obliged to refund the fees.
Unless your bank has given you the opportunity to opt out of having transactions with your card approved against insufficient funds and you have, in fact, opted out, you and you alone are responsible for the fact that the transactions took your account negative. You should maintain a record of your account such that you know when a transaction would overdraw the account.
You say that you have asked the bank to reverse its charges. It is probably not obliged to do so, but may decide to refund some part of the fees. Hopefully, you'll be able to get the account back under control. However, if you can't manage the account to avoid overdrafts in the future, stop using your card, or get an account for which the bank will not approve purchase transactions that would overdraw your balance.
Published on BankingQuestions.com 5/28/09
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