I need the answers to a banking promblem.?

If the bank now that you have non-sufficient funds,why did that lest me exceeded the balance of the saving account. The $40 and $20 for the transctions is a $28 charge for each one and $6.50 each day until my pension is direct deposit on the end of the morth. For a overdraft of $60, I will pay $247 out of the check that is $353. This is a saving account it was not set up to be a checking account.

I don't know where you live, and banking varies from place to place, but $6.50 per day for an overdraft does not sound legitimate.

If it was $6.50 per MONTH I could understand it.

You will need to get your facts straight, and if indeed the bank is trying to charge you $6.50 per day, NO MATTER WHAT YOU MAY HAVE DONE TO CAUSE THE OVERDRAFT, it is very likely illegal.

Loan sharks don't even charge that kind of interest. Call the office of your state representative and ask for help.

If it is the first time and you can explain an honest mistake they will sometimes remove or reduce the charges.

This is how banks make money. Every ingredient in your story is a flow of income to the bank. Your only hope is to be very careful not to NSF somebody. The fees will kill you.

Wish you the best.

They probably did not understand what you were going on about.

I have worked in a bank for 19 years and I have read your question 4 times.

I have no idea what you are going on about !!!!

Maybe you could ask the question again and try to explain clearly what happened to cause the initial overdraft.

Some ATMs are set up to check with your bank for available funds before it gives you the cash, others aren't. If you withdrew money from one that wasn't, your bank didn't know you were trying to withdraw money that wasn't there until the company that processes that machine's transactions sent the information to them.

Technically, withdrawing money that you don't have is a crime. But everyone makes mistakes, forgets to record a transaction, or just doesn't care to keep up with the maintenance themselves. So that we don't have half the country in jail for bank fraud, they have the money penalties to help people remember to be careful.

There is no way as far as I know you can have insufficient funds through a savings acct. It sounds like you wrote 1 or more insufficient funds checks and you have to pay the piper. The bank is not going to use your savings acct. as a checking. They could have set up your checking acct. up so that if you did have insufficient funds they could take it out of your savings acct. The bank lets you know these things so I don't know where you are coming from.