Obviously keeping track of you're own money is optimal...but i think the issue he has is that the online banking didn't calculate his transactions until after the weekend but obviously the bank did or else he wouldn't have all those overdraft fees when he made a transfer from his savings. I agree with the op if they didn't calculate until the weekend then he shouldn't have those overdraft fees.
I agree that you can't be too careful with checks...but if you don't use them, just the debit card, the "available balance" on the website should reflect how much is available NOW. My bank, when I log in and in each daily e-mail they send me, shows an up-to-the minute "available balance" and a "ledger balance." The ledger shows how much is actually in my bank account while some transactions haven't gone through. Available is available.
Even I know that money you spend during the weekend doesn't show up on your on-line banking until Monday. I always tell myself that I want to start keeping my checkbook balanced, but i'm too lazy.
Debit cards don't always post immediately. I have seen them take a week to post. There are also those places that exist that still use the imprint machines.
This is true, although those imprint devices are not as widespread as they once were, especially when using it on the Internet.
yet another reason why i like using credit cards.. just put everything on credit cards.. pay them off in full every month electronically from your bank account. You're never overdrafting, never paying fees/interest, and since it's just 1 big lump sum payment (or maybe 2 or 3, but you can stagger them since you have 30 days to pay), there's no risk of transactions "pending"
After about 10 years of constant arguing, this is the system we went to also. She has her own account and her own money and if she chooses to waste it paying NSF fees she can. I won't.
Banks are crooks. They know exactly how much money you have on your account on hand. If they WANTED to, they could time stamp it to the minute. What I don't understand is why nobody has overdraft protection. Problem solved.
They charge you money even if you have overdraft protection. Best way is to keep enough money in your checking account (say 100-200) extra all the time.
So I have this checking account separate from my joint one with my wife. We both have one for ourselves. I never have more than like $50 in it. I wasn't paying attention not too long ago and got a NSF fee. No big deal. I get the account back in the positive, but not by much. I look today and see a charge called "Service Fee - $10." I call Chase and they tell me that any time you get a NSF fund you also get hit with this service fee. Have any of you ever heard of this before? I thought the NSF was the punishment. I'm now in the negative again because of this. Safe to say I'm closing this account and the credit card I have with them. I've never seen this before on any checking account I've ever had. I know they couldn't care less because it's not like I'm some huge customer. Doesn't mean I should be satisfied with getting nickled and dimed like that...
