Can I reopen a bank account that has a negative balance?
Here's the thing. My old checking account was closed because my balance was negative because of an overdraft fee. I was laid-off from my job and have been doing odd jobs and construction work for the past year. So I've been getting paid cash for that and haven't used my bank account. Well, I finally found a good job and I start next week. The thing is, they only offer direct deposit as the payment method. But I can't use direct deposit because I can't open a bank account because of the negative balance on my old account. Can I open my old account and let the direct deposit of my first paycheck cover my overdraft fee and get my account back in good standing again? If not, does anyone have any ideas how to get around this? This is a really good paying job and I hate to lose it before I even start because I can't open a freakin' bank account. Thanks for reading!
Why do I have a negative balance on my PG&E bill?
To add to cainvest's response, if you've had an account with a utility company for a long time, they may have returned a security deposit, credited to your account. Look at your last two statements, you should see what the credit was for. Hmmmm.... a credit of $200 and a net balance of -$177? That means your gas and electric bill was about $23 for the last period? In California? I haven't seen a $23 electric and gas bill in over (many many) years! If I open the fridge door it's $23 to turn that light on.
How can a savings account go into negative balance?
I had a savings account at bank which account was closed a few years ago. A little before that time, I was about 17 years old and was trying out some online poker site, to which I deposited via my savings account. Then one day my bank tells me I have a negative balance. I have refused to pay such debt - I have been receiving debt collection letters eveyr few months offering to cancel the debt in return of a payment of some amount. The negative balance they say I have is 1568, but at one point they offered to settle for 728, then a few months later 548, now 298. They seem to just be going down and down because they know they are wrong. A savings account is only responsible for the amount in it, how can a person be liable for more than is in the account. Any one have legal advice as to where I can word this in "legal terms." I am going to write a formal letter to them so they stop bothering with debt collection attempts which they know are wrong.
Negative Balance In Checking Account...?
Long story short, I totally messed up my checking account through my local credit union, and now I am in the hole over $500. It was my mistake of course, no denying that, but they just contacted me to let me know I have two weeks (which makes it about 30 days since going into the negative) to bring it to a positive balance or they will cancel my account and pursue legal action. I have every intention of paying this back, I can also understand terminating my account, but is there anything I can do to buy some more time before they "pursue legal action"? The bank manager will NOT knock off any amount of the overdraft fees, even though this is my first time going into the negative. What are my options for buying more time to pay this debt back? Or any other advice you can give me about how to deal with this mess? Yes I know it was my fault, I don't need a lecture, just some advice. Thanks in advance!
What does a negative credit card balance mean?
If you have a statement with a - (minus) sign before the amount due, it means that the bank owes you money. Most card companies have their software designed so that the statements are automatically issued if there is a balance even if there are no transactions. Also having a balance negative of positive will not allow you to shut the card account.
If a checking account is in the negative, can a savings account appear at $0?
My bank account is overdrawn due to an online mistake, and overdraft fees. I am going this evening to night deposit a check to correct it. However, my savings account is appearing at $0, even though I am positive there was money in there. Can the bank make this money inaccessible, or appear as gone, if you have a negative checking account? I would check it online but my account has been locked due to the negative balance.
Will I be charged twice for Paypal negative balance?
I bought an item online but I wasn't able to pay for it due to a mistake transferring money between accounts. I was negative £35 but only found out when I went to buy another item online. I was informed that along with the cost for my new item, I would be charged £35 which was fine and then I assumed that it would take 5-7 days for the debt to be shown as cleared on my account. The problem is that I ordered a 3rd item today and the message saying that £35 will be taken came up again. Am I going to be charged twice? In addition, will the excess of £35 show on my Paypal account so that I can transfer it back to the bank? I plan to call customer service but it's late right now so I'll have to call tomorrow.
What do I do when HDFC is charging for not maintaining balance for inoperative savings a/c even after RBI has made a rule for private banks not to charge penalty for inoperative savings a/c?
There is report in June 2014 Business Today as follows…RBI Ends Penalty For Dormant AccountsThe Reserve Bank of India has asked banks not to charge any penalty for non-maintenance of minimum balance in dormant accounts.Team Money Today Print Edition: June 2014In an attempt to provide some relief to customers, the Reserve Bank of India has asked banks not to charge any penalty for non-maintenance of minimum balance in dormant accounts. Savings accounts and current accounts are treated as dormant if there are no transactions for over two years.According to the RBI notification, banks should not take undue advantage of customer difficulty or inattention. Instead of levying penal charges for non-maintenance of minimum balance in ordinary savings bank accounts, banks should limit services available on such accounts to those available to basic savings bank deposit accounts and restore the services when the balances improve to the minimum required level.Reserve Bank of India ends penalty for dormant accountsThe report above is quite clear. Banks are barred from charging penalty. They have the option to limit the services.I suggest you withdraw Rs. 5000 and then request refund of Rs. 700 with simultaneous request to close your account. Give them application asking for refund else you will approach RBI. If the bank still refuses you may write online to the RBI.
If my bank mistakenly deposits $1,000,000 into my account, am I legally allowed to spend it before they realize their mistake?
Once a bank deposited mistakenly 150,000 in my account, I took it all and when bank sent me a notice, I refused to pay. The bank then collected the money from my other bank account which was with same bank. The bank informed me that how mistake was done. It was due to same debit card number on diffrent accounts. I went to a lawyer and sued the bank 1. Mishandling accounts2. Intention to create negetive credit report (before this incident I tried to apply for a loan and bank refused it since I had bad credit score)3. Agnoy caused. 4. Mental harrasment. The case was judged in my favor and bank needed to pay me another 250,000 as damages. Court also ordered bank to pay 150,000 to the person who lost money and damages of 100,000 Soon after this the bank manager was changed and bank forced closed my accounts giving reason a really bad credit report and as a negetive customer. I again filed a case against them since no bank can deny your account on basis of credit report. Since now this time it was in media, bank settled the case outside the court giving me 500,000 and 250,000 to my lawyer. Later after a year I applied for a loan under certain special conditions and bank approved it without going for in depth investigation. I was unable to pay installment on time so they sent a recovery agent to me who tried to force money illegally, since I have CCTV installed, I had all proofs that it was bank's agent trying to harras me. I sent it all to my same lawyer again and before any case could be filed, a settlement was made in which bank closed my loan and offered me a million dollar as damages. I again applied for loan bank approved it and even I don't pay my installments on time bank never calls me or sends a reminder. You see you need to have presence of mind and a good lawyer.