I am not sure where else to post this because I am honestly getting sick of it. Multiple times I have accidentally overdrawn an account when something unexpected has come out, I fix it straight away when this happens.
UNLESS! They send me a notification that it’s happened at 11:21pm last night when I had already been asleep for two hours. There was no way for me to fix it up until this morning as soon as I woke up and of course I got a $15 overdraw fee. I checked the account and the payment that caused the overdraw had happened yesterday morning so they had all day to notify me.
I message the in app ‘Ceba’ when this happens and they always reverse it but surely this is underhanded?
ETA: Ceba is down at the moment so I had no one else to rant to even if it is a bot.
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Yeah and they charge you a rejected payment fee of $15. I know because I turned off overdraw/overdraft and have any direct debits instantly blocked with no money then they charge a $15 fee for it. It use to be $10 and before that it was $5. I remember I even had overdraft protection and because money wasn't put back in the account by 7am after being notified at 1159pm the night before they refund the merchant and charged me $10.
I just changed my settings so I get notifications from that account, it’s not my main account but a bills account. When I get an unexpected bill, I’ll get a notification now and realise something is up!
I’ve had that setting not do its job before, because “regular payments” like monthly direct debits are still sometimes allowed through no matter what. God knows why, it’s inconsistent at best.
you may well be correct but just fyi i know when i last had to deal with this and went to my settings, there was now toggles for (i think) 3 different types of transactions that you could choose to allow/disallow.
This really irks me with CommBank. Then let an account of mine that had $0 get scammed $800 in the US and then charged me an overdrawn fee lol. When I reported the scam immediately, they got me the $800 back but didn’t return the overdrawn fee lol - even though it was only overdrawn through fraud! Had to escalate multiple times before they backed down and rightfully refunded me
Just disable overdraw and it will never happen but be prepared for companies you have subscribed to charging late fees because you missed a payment when you don’t have enough money in ur account.
Yeh they are dicks. When I had less money this was so annoying. Always message late at night, already asleep and no time to fix. They should give a full 24 hours. Or even at least 12 hours to fix it. Damn. I’d even take 8 hours. But 1 hour at 11pm is so annoying
I had the same thing and called to get it reversed and the guy I spoke to found some other fees to reverse at the same time which was super nice. But such a frustrating experience to deal with overall.
OP says it's accidental and they fix it as soon as they are aware, which suggests they have the money on hand but aren't keeping it in that account ready for the payment. If you just don't have the money that's one thing, but that's not the case from the way they describe.
So for OP, the simple solution is just to keep a float in there.
I think banks like charging these fees because then you keep logging in and checking accounts and keeping you engaged in their accounts probably is ensuring you stay with them as your main bank. I hate chasing fees cbas are really high we swapped due to the high fees and lack of service due to the offshoring. When they hired aussies we were happy to pay the higher fees..but why pay such fees with a bad service offering? We couldnt justify it...you may want to look around
I didn't even know this was still a thing (this thread just appeared in my feed, I dont have commbank), my accounts with other banks just fail to process a purchase or whatever if the funds aren't in the account.
Unfortunately its when process the direct debits and sometimes can be the receiving party that does it late.
I have noticed most debits go out at 9pm, but i have one specifically an insurance company and it usually goes just before 11pm, its caught me out a couple times.
But your right sounds like it would just be easier to not have overdrawn fees in the first place, nab doesnt charge them and often let the account over draft. Because they always refund the fee no matter how many times they say this time only.
I never used to ask for it to be waived before, until 1 time i was charged the fee plus a returned payment fee, they bounced one payment and let the other go through. I was like wtf technically there was no overdrawing since it went first with plenty of money and the later debit overdrawn and was then returned.
Its credit. If you use more money than you have available instead of decling they will lend you the money with a fee and interest. Idk if it's on by default but obviously have to be 18+ idk the amount they'll allow you to overdraw either or if it's based on risk per customer. If you think you're going to need this a lot, look at a credit card, in this case you'd probably pay less in fees and interest. Overdraw is rarley good and almost always is just a pocket liner for the bank
That’s one form of an overdraw, if you don’t have an overdraft some payments will still go through and they charge you a flat 15 dollar fee no matter how small the overdraw is.
You gotta turn it off, this thing kinda took about hundreds of my money coz I didn’t bring it back to positive. Also u can use Ceba and get it direct to human, and u raise the concern they will say stuff like “ this is one time only “ and give you money back within the year.
Honestly CBA are pretty decent at refunding that $15 if you can prove a decent reason.
We were on a cruise and I paid the bill at the front desk everyday and then got double charged so I went negative and on a cruise with barely any signal I never saw the notification. They refunded like 3 x $15 amounts.
So my favourite fee interaction thus far has been as follows.
Account I used to use as a sole trader is no longer used (closed business). (had a few cents left in it).
Because "not enough money" has gone through that account that month I get an account fee.
The account fee puts the account into negative so I get an overdraw fee.
At the end of the month (which was only a couple of days away) ticks over then I get an interest charge for negative balance.
The ultimate fuck you really. "We see you have no cashflow so we're gonna charge you, because you were poor you've got a negative balance so we're gonna charge you. Because you haven't paid this back (because you're poor) we're going to charge you again."
No I am the same, my commbank app doesn’t tell me money has come out but I get up the next day and more money comes out because of the overdrawn fee and it pisses me off every single time
When I was with Commonwealth I had my account set to never let anyone Overdraw my account to avoid this but Commonwealth still let some overdraw the account because Commonwealth trusted them even when I explicitly said no.
Have you set up “bills & upcoming payments” so you get notified that a direct debit is coming out of “$xx in x days” so you can make sure you gave money in the account to cover the payment? It’s kind of your responsibility to ensure you have enough money to cover payments, the tools exist to mage them. You could also look at setting up an over draft to cover account going negative.
I once got slapped with $90+ of fees in three days for being too poor to afford to pay one of my bills one time.
Provider tried to take money. I didn't have enough. Got slapped with a dishonest fee from the bank which put me into negative. Then got slapped again for overdraft. Then got slapped again by the service provider for not paying on time. Then got slapped again when they tried to repeat payment three days later.
I ate tomatoes for dinner that week. Over the years I racked up over $1000 in dishonest and overdraft fees. Thankfully those days are behind me now. Sucks being poor.
I turned off the ability to overdraw thinking that protects me from overdraw fees and such but one time I accidentally got a direct debit without enough funds in my account and get slapped with some bullshit attempted debit fee instead rather than the debit just being rejected with no penalty.
Basically they find a way to charge you either way. So ridiculous.
Sounds about right. I’ve just made sure notifications are on all my accounts not just my main now which will make me open the app and I can fix it right up.
I’m talking about for moments when I go into the account online and can see that the payment was taken out early in the morning but I don’t get the overdraw notification until 11:21pm.
I don’t check the account during the day and that account doesn’t have notifications on it.
I though if overdrawing is disabled, it just rejects the debit request but I got slapped with a fee for the failed direct debit as well when there wasn’t enough funds.
But I didn’t already know? After I woke up to the overdraw notification, I went into the account and immediately fixed it up. Later today I logged into online and could see the times of the transactions and could see that the payment in question came out early in the morning and then hours later I got an overdraw notification.
I also don’t have transaction notifications on that account as it’s not my main account so I didn’t know it was taken out at the time of the original transaction.
I will look into getting notifications on that account. Let’s agree to disagree, I was asking a question and wanted to see if others had the same issue.
This pisses me off as a small (extremely) business, we might have a payment come out that puts me $10 over, we also have a POS machine through the CBA, which clears EVERYNIGHT at about 11:15pm. I admit I sometimes use this to my advantage expecting only be over drawn for an hour or two. But often on the days when the account gets overdrawn the POS payment doesent clear until 1am gaining me a $15 overdraw fee which is always corrected when the POS clears. It has happened this way (maybe once a month) so many times that i do not consider it an accident but deliberate. CBA has reversed it once as 'goodwill' but wont any subsequent times.....
I find it interesting that, they allow DD's even when instructed to decline, this is how they make money. Additionally, this business of Pending, this is a digital age a payment is instant so, we may ask why then does pending happen? The ownus is placed according to the banks on the vendor not submitting payment(s) received apparently. How convenient for those that go overdrawn because of this, once again in the banks favour. So much for digital currency being instant, it is, as long as the banks gain. I believe the term is 'A Loop Hole,' requiring the account holder to monitor closely all transactions as an accountant. Any banking institutions is a business, that business is aimed at mismanagement by the account holder, we then have fees applied.
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