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ManBearPig
10-14-2007, 02:00 PM
im checking my online transactions and what in the hell is this?

ODP\SWP CR MEMO

is this overdraft? heres what happened. i had about 100 dollars left, i bought a book for 139 dollars, and then i went to an atm and transferred 50 dollars to my checking. i shouldve gone to the atm first, i know, but i thought that it wouldnt overdraft until after it actually went through (these are all pending). i hope i dont have to go talk to the fing bank.

thanks

se7en
10-14-2007, 02:08 PM
odp - over draft protection? I dnno

Idontcare
10-14-2007, 02:20 PM
You have to understand what "pending" means.

Pending means the entity which is intending to extract money from your account has received confirmation from the financial institution holding your account (Chase in this case) that they will in fact receive their money.

The only way Chase can confirm that an entity will receive their money is if they run the numbers on your account and figure out what needs to happen to ensure that yes in fact Chase (and thereby you) can make good on telling the "entity" (whoever you bought your book from) that their money is coming.

Pending does not mean "grace period for the account owner". Your grace period ended when you elected to tell the book seller "sure I'll buy that book, and you should trust me and take my word for it because here is a peice of plastic with my name encoded into it".

If Chase gives you back your ODP fee it is not because Chase or the book seller did anything wrong, it sounds like you are the one abusing the system here and now you want Chase to pay for your lazy banking attitude.

allisolm
10-14-2007, 02:26 PM
i had about 100 dollars left, i bought a book for 139 dollars

Anything that comes after that is not a "chase bank wtf..." but a Kazaam wtf...

ManBearPig
10-14-2007, 02:28 PM
yeah i suppose...you think i should go return the book and just buy it back...or would that be retarded. i think the fee is like 7 bucks or something. i didnt think they would take overdraft until after it actually went through.

Whisper
10-14-2007, 02:40 PM
Originally posted by: Kazaam
yeah i suppose...you think i should go return the book and just buy it back...or would that be retarded. i think the fee is like 7 bucks or something. i didnt think they would take overdraft until after it actually went through.

Returning it likely wouldn't do much of anything; once the purchase is made, the overdraft fee is going to go through.

What you can do is call your bank and ask them if they'll do a one-time reversal of the charge. I know that if my account's been clean for a year or so, Wachovia will do that on occasion.

allisolm
10-14-2007, 02:40 PM
Returning the book won't eliminate the fee. You can always ask the bank nicely to refund the fee if you promise to be good and maybe they will. Otherwise just eat the $7, counting it as a lesson in how not to do things in the future.

Agentbolt
10-14-2007, 02:46 PM
You have a savings account/credit card with them too. It took the money out of your savings account to cover the money for the book. When you get the money back in there it will transfer the money back to your savings account. I got real confused the first time this happened with me too, it's actually a pretty cool feature Chase offers us though :)

edit: No offense, but pay attention to your online bank statement. That is showing up as a credit, not a debit.

Boztech
10-14-2007, 04:13 PM
don't just pay attention to your online bank statement, you need to keep a check ledger - something that everyone should do but barely anyone does

you can't always trust your ledger balance online (or your teller), you need to have something to balance it against

theknight571
10-14-2007, 06:57 PM
The way I see it... on any given day... all withdrawls will be processed before any deposits.

It seems regardless of the actual time of day the actual transaction took place. :P

skywhr
10-14-2007, 08:04 PM
Hope its just $7 Wachovia charges $35 or $70

I dont have "overdraft protection" I dont spend more than I have

Agentbolt
10-15-2007, 01:13 AM
I dont have "overdraft protection" I dont spend more than I have

It's not spending "more than you have" if it takes the money out of your savings account, Professor. Reading comprehension FTW!

Saga
10-15-2007, 01:19 AM
Originally posted by: Kazaam
im checking my online transactions and what in the hell is this?

ODP\SWP CR MEMO

is this overdraft? heres what happened. i had about 100 dollars left, i bought a book for 139 dollars, and then i went to an atm and transferred 50 dollars to my checking. i shouldve gone to the atm first, i know, but i thought that it wouldnt overdraft until after it actually went through (these are all pending). i hope i dont have to go talk to the fing bank.

thanks

Things like this make me weep for humanity.

You used money you didn't have and are pissed at Chase for charging you for the convenience of actually buying the book without getting a "declined".

Personally, I think you should be thanking them. I know they're thanking you for your money.