I saw an old thread with MrKnowitall and fuzzy something, about chase and overdraft fees. It happened to me, but it may be different. I promise to be respectful to all who reply.
If I had $25 in my account...and another $100 pending, I would say 9/10 times Chase makes it available in 20 hrs.
But the one time I have $25, and an automatic $50 payment comes through (and the $100 still says pending)...Instead of processing the pending first, they deduct the $50 and charge me an overdraft.
Had they processed the 100 first, it would have cleared.
I know it's just a way to crap on us little guys to get a fee, but is it legal?
They process the debit right before the credit which causes an overdraft. I wonder if they have some algorithm that does this for their benifit. Is it my imagination, or is it a coincidence that the one time a debit comes during that period, they process it to their benifit.
If I had $25 in my account...and another $100 pending, I would say 9/10 times Chase makes it available in 20 hrs.
But the one time I have $25, and an automatic $50 payment comes through (and the $100 still says pending)...Instead of processing the pending first, they deduct the $50 and charge me an overdraft.
Had they processed the 100 first, it would have cleared.
I know it's just a way to crap on us little guys to get a fee, but is it legal?
They process the debit right before the credit which causes an overdraft. I wonder if they have some algorithm that does this for their benifit. Is it my imagination, or is it a coincidence that the one time a debit comes during that period, they process it to their benifit.
Potentially Wrong Overdraft Fees from Chase
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