Prevent Debit Card Overdrafts: Tips for Submitting Funds Quickly and Accurately

[cookn' katie]

I have a host who wants me to submit her show tonight, but she didn't get her $ deposited today due to an error with a few of the checks. When I submit it, how quickly is it withdrawn from her account. I hate to give her wrong info and get her overdrawn. Please help ASAP!!

 

[NooraK]

If she paid you with her debit card, it'll be run as a Visa (or MC) as soon as you hit submit and do the Credit Card Authorization in P3. This will place a temporary hold on her account, and the transaction will take a day or two to process and post. Most banks will count the temporary authorization against her available balance and charge an overdraft fee if she goes into the negative.Or, the bank might just decline her card because of some of the new laws about overdrafts (in that she would have to opt-in to allow her bank to overdraft her).

 

[pctharper]

I had this issue on my very first show! If its a debit card and the funds arn't there, they will decline the card.

 

[ShelbyMichalek]

It really depends on the bank. Wells Fargo will not.

 

[julmarsala]

In my experience, it depends on whether or not the person signed up to have the card declined or approved with an overdraft charge. Then depending on the amount if it's under/over the bank's ceiling for overdrafts it may/may not get declined.

Hope that makes sense.

I'm not an Accountant, nor do I play one on TV.