What will happen if I spend over what’s in my bank card? Does it goes through or cancel orders

[WolfLoverPro]

I’m not purposely gonna spend over want I have lol but I want to know what happens ?

 

say if I had 5k in a bank and I spend 4999 on one order then 50 On another online wat would happen ?

 

would I goto - money or just the order wouldn’t go through? Or would it take as much as it can to 0 then don’t go past that

[airdeano]

if a debit card (bank supported) itd act as a checking debit. if you take more than what is in the account an overdraft will occur. depending on plan, some will make the second purchase happen, but a penalty for the overdraft and you'd 'owe' the balance.

[Dredgy]

In the exact situation you described, your card would almost definitely be declined - unless you had an overdraft already set up.

 

Sometimes your bank will give you an informal overdraft - say you spend $50 when you only have $45 - your bank might allow it to go through.

 

In either case, if the transaction DOES go through, your account balance will be negative. You will owe the bank money, and be charged interest. Your bank might also charge you a dishonour fee.

[zassou]

the bank would return an error message like "Insufficient funds" and the transaction will fail.

[Guest]

An overdraft occurs. You get a little leeway depending on where you shop on how much it is, but in your online banking you can set your limit up to around $500 informally.

[Canada EH]

On 11/4/2018 at 7:52 AM, WolfLoverPro said:

I’m not purposely gonna spend over want I have lol but I want to know what happens ?

 

say if I had 5k in a bank and I spend 4999 on one order then 50 On another online wat would happen ?

 

would I goto - money or just the order wouldn’t go through? Or would it take as much as it can to 0 then don’t go past that

If you have overdraft then you can go into the negative. If you do not you can still go over sometimes but that depends on the bank. If you are a long time client of a bank and if they are a good bank they will allow you to go over a bit, but not 100's or anything. That is what overdraft is for.

 

If you are asking then it probably would not go through, but there is a slight chance it might. Especially if you have $5k in your bank account, then money talks. Banks pay attention to that sort of thing.

[iKingRPG]

On 11/4/2018 at 8:52 AM, WolfLoverPro said:

I’m not purposely gonna spend over want I have lol but I want to know what happens ?

 

say if I had 5k in a bank and I spend 4999 on one order then 50 On another online wat would happen ?

 

would I goto - money or just the order wouldn’t go through? Or would it take as much as it can to 0 then don’t go past that

ask your bank it is different for everyone. since i am a minor they just decline it.

[TetraSky]

If it's an online order, like through Paypal, unless your bank is really nice or you have a "credit" account linked to it, they'll will hit your with overdraft fees (45$ for me) for lack of funds.

I made that mistake before, ordered batteries on ebay for 15$.

3 days later, I thought Paypal had passed the payment already but didn't check to make sure like a moron, so I got some cash out of my account for food.
I literally had 14.39$ in my account and the next day they hit me with 45$ in overdraft fees, so now I was at -30.61$.

Had I not immediately borrowed 50$ from my mother, I would've been another 45$ under because paypal tried to get their money once more within a few hours.
Lets just say those batteries were NOT worth what I ended up paying for them...

 

Also, if you're about to make a large and expensive order from your bank account, make sure to contact them first, to make sure there isn't some kind of "limit" to your account. Found out mine was 1000$ per day, so it was a bit awkward when it came to pay for my 3500$ Lasik operation and got declined. (got it unlocked within minutes after calling my bank, but still annoying... the "starting from 490$ per eyes" for lasik is bullshit and nobody save for those who have the mildest ever eyesight impairment at like, -0.25, would ever pay that)

[Cm]

I hate it when I do that.

[AngryBeaver]

Well once upon a time when we had checks there was this little book in there that let you keep up with you bank balance. So when you went to write the check (if you kept it up to date) you always knew what you had or since it was a check you knew if you would get paid before they could clear it.

 

Now that we have moved to mobile banking and debit cards it seems very few people keep up with their account balance and just depend on their app to tell them (if they check at all). The problem is sometimes depending on where and how you made the transaction they sometimes do not show up in your account for hrs or a day or two. Which then can cause issues.

 

My advice is that instead of worrying about what would happen if you go over... you should be worrying about what you can do to insure you DON'T go over. Some companies will just decline the transaction, others will let it go through and give you a overdraft fee, others let you set up another account they can pull money from if that happens (like a savings account). This all becomes a non-issue though if you just manage your funds responsibly and keep up with what you have. If you can keep up with what you have then it becomes being smart and not spending beyond your means.

[Mooshi]

50/50 cancelled order - overdraft fee and negative balance for sure if the order placed. Is this your first bank account or something?

[WolfLoverPro]

21 hours ago, Mooshi said:

50/50 cancelled order - overdraft fee and negative balance for sure if the order placed. Is this your first bank account or something?

im 19 so yea it is at least spending online

 

im not actaully going to spend im not liek that but im just saying what would happen if i accidently did or somthing

[Canada EH]

On 11/5/2018 at 6:17 PM, iKingRPG said:

ask your bank it is different for everyone. since i am a minor they just decline it.

It really doesnt matter if you are a minor or not, it all depends on how your history with the bank and how much of a risk you are, your credit report and how much money you have. Do you ever wonder why banks and credit cards line up with foaming mouths at univ and colleges?

 

Banks made a ton of money on nsf, now its just as easy to view your balance on your cell phone app. Very few people have fiscal responsibility.

22 hours ago, AngryBeaver said:

checks there was this little book in there that let you keep up with you bank balance.

 

Now that we have moved to mobile banking and debit cards it seems very few people keep up with their account balance and just depend on their app to tell them (if they check at all). The problem is sometimes depending on where and how you made the transaction they sometimes do not show up in your account for hrs or a day or two. Which then can cause issues.

 

My advice is that instead of worrying about what would happen if you go over... you should be worrying about what you can do to insure you DON'T go over. Some companies will just decline the transaction, others will let it go through and give you a overdraft fee, others let you set up another account they can pull money from if that happens (like a savings account). This all becomes a non-issue though if you just manage your funds responsibly and keep up with what you have. If you can keep up with what you have then it becomes being smart and not spending beyond your means.

 

21 hours ago, Mooshi said:

50/50 cancelled order - overdraft fee and negative balance for sure if the order placed. Is this your first bank account or something?

Some people have never paid bills, let alone dealt with banks and they are 40+ it is far too common.

 

 

 

5 minutes ago, WolfLoverPro said:

im 19 so yea it is at least spending online

 

im not actaully going to spend im not liek that but im just saying what would happen if i accidently did or somthing

Well I mentioned it exactly what would happen. Its simple.

 

Banks are all about risk, that is their primary job RISK.

They study your track history.

They study how rich you are.

They study what you purchase.

Most importantly they study if you pay your bills on time, minimums or pay it all off.

 

 

 

 

 

 

[TechyBen]

On 11/4/2018 at 2:52 PM, WolfLoverPro said:

I’m not purposely gonna spend over want I have lol but I want to know what happens ?

 

say if I had 5k in a bank and I spend 4999 on one order then 50 On another online wat would happen ?

 

would I goto - money or just the order wouldn’t go through? Or would it take as much as it can to 0 then don’t go past that

Ask bank.

[edit]

Does depend if you are a minor in some countries (most?) as "credit" is not allowed. Where as over 18, the bank could put an overdraft on even without asking, if under, they could not even if you asked.

For example, in the uk, under 18s (use to?) get offered these:

https://en.wikipedia.org/wiki/Visa_Electron

[Canada EH]

5 minutes ago, TechyBen said:

Ask bank.

Yes, or purposely buy over your balance by a bit and see. I would start off at $40 but first check to see what the fee is, if there is a fee. Depends on the account you have.

[TechyBen]

Just now, Canada EH said:

Yes, or purposely buy over your balance by a bit and see. I would start off at $40 but first check to see what the fee is, if there is a fee. Depends on the account you have.

Hahahahahha. No. "By a bit", and what, a few cents/pence over and you get hit by a fee... Like, do you play with fire, knives and Canadian bears too? XD

 

The bank probably has a website and is a darn site cheaper than getting charged!

[Canada EH]

All depends if you get charged a fee or not that is why you look at your account details or call your personal banker. I was never charged a fee when I did it without over draft.

[AngryBeaver]

6 minutes ago, Canada EH said:

Yes, or purposely buy over your balance by a bit and see. I would start off at $40 but first check to see what the fee is, if there is a fee. Depends on the account you have.

If there is a fee you can normally call and have it reversed if it is the first time or been over a year since the last time. Either way the best solution is to just not go over.

[Canada EH]

1 minute ago, AngryBeaver said:

Either way the best solution is to just not go over.

You are right in the fiscal responsibility area, but the best solution is to know exactly where you stand with your personal banker.

[TechyBen]

3 minutes ago, AngryBeaver said:

If there is a fee you can normally call and have it reversed if it is the first time or been over a year since the last time. Either way the best solution is to just not go over.

Depends on the bank. Are you willing to take that chance?

[AngryBeaver]

30 minutes ago, TechyBen said:

Depends on the bank. Are you willing to take that chance?

I am not hurting for banks. So in the event I did happen to go over (unlikely) and they didn't refund the fee (unlikely) I would close my account and move to another bank that would. Then again I keep the majority of my money that isn't being invested in a credit union where i get better benefits and it is also harder to just run out and spend which means it actually accumulates better.

 

I don't have much need for credit cards anymore and learned my lesson on them when I was younger. My credit is good, but I do not have any credit cards outside of a target card that I link to my bank account anyways for the 5% savings. If I need something I have worked hard enough that I can generally pay cash for it. For a car purchase I will finance, but I also put down a decent down payment and take a shorter loan duration with low interest. Now there is a back story from when I was younger that has led me to being more responsible, but it isn't something I will likely ever share lol.

[TechyBen]

Close the account while owing? Is that good advice for everyone? (Hint, not everyone has the same credit score or need)

[techguy101]

most likely your card will be declined, or if it does, your account will be negative.

And just like how banks are supposed to do, They charge you for not having enough money.

 

[iKingRPG]

On 11/4/2018 at 8:52 AM, WolfLoverPro said:

I’m not purposely gonna spend over want I have lol but I want to know what happens ?

 

say if I had 5k in a bank and I spend 4999 on one order then 50 On another online wat would happen ?

 

would I goto - money or just the order wouldn’t go through? Or would it take as much as it can to 0 then don’t go past that

As far as I know some banks charge you a fee and if you have bad/no credit they just decline your order (they don't approve the transaction). I am 13 and I live in the United States so my bank doesn't charge me fees they just block it. But my dad has good credit, so he would probably just get charged a fee. I don't know if overdraft lowers your credit score or not though. I really think you should just ask your bank because that is part of their job I think.

[wasab]

On 11/4/2018 at 9:52 AM, WolfLoverPro said:

I’m not purposely gonna spend over want I have lol but I want to know what happens ?

 

say if I had 5k in a bank and I spend 4999 on one order then 50 On another online wat would happen ?

 

would I goto - money or just the order wouldn’t go through? Or would it take as much as it can to 0 then don’t go past that

You will die so don't do it