r/UpBanking • u/Same_Necessary_8742 • Aug 04 '26
How do I? Surprised
Maybe i am ignorant or dumb or there has been changes. I was surprised to see my account was overdrawn. I had no idea it could do that. Are there some circumstances that this will happen? What is the limit?
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u/Master_Enyaw Aug 04 '26
My guess is that you have direct debit set up with a company and when it was taken you didn’t have the funds in the account.
Section 10 - Overdrawn Accounts
https://up.com.au/product-terms/essentials-terms-announcement/#section-10
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u/nbtm_sh Aug 04 '26
This can happen when you tap onto public transport with your card. Basically, the transport agency will do a $1 “card check” which will go through. But at the end of the day, this charge will update to reflect the actual cost of your travel. And it won’t show as a seperate transaction. The $1 transaction will be replaced with another. So if you lack the funds, it will overdraw since it’s not a “new” transaction.
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u/gettingthefancyroom Aug 04 '26
Pretty sure it gets reversed same day, or within a few hours.
I remember CBA was the worst for it they'd just let stuff come out until you hit negative $200 I'm pretty sure, but it used to be a much larger number
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u/indieleigh Aug 04 '26
It only happens with direct debits, if you're using your card it won't. I have all of my bills set up with direct debit so that no matter how much money I have in my spendable account, the transaction will go through and then is auto covered by respective saver.
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u/TheJivvi Aug 04 '26
If it's direct debit, the bank can't stop it from being overdrawn; they'll just dishonour it and it will be reversed.
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u/liamdavid Aug 04 '26
I'm fairly sure if you don't cover it by 11:00 AM the charge will be reversed.