Paypal Question

Tall Israeli · Post by **Tall Israeli** » Wed Jun 29, 2005 8:38 am

Lets say you transfer $50 to paypal, but you only have $20 in your account. Will they just charge you a fee, or will it cancel out?

DCFan2004 · Post by **DCFan2004** » Wed Jun 29, 2005 9:13 am

They'll most likely give you the 50 because it's coming from a bank account, but at that point your bank will probably charge you an overdraft fee which is like 25 bucks. Thats not worth it. If I were you, if its not too late, don't do it and wait until you have the 50 bucks in your account to xfer.

Raijin Z · Post by **Raijin Z** » Wed Jun 29, 2005 9:27 am

Or Paypal will attempt to withdraw 50 times in an hour, and the bank with hit you with about $400 in NSF fees.

Lunchbox · Post by **Lunchbox** » Wed Jun 29, 2005 9:57 am

Yeah that happened to me once and I got nailed with a $40 overdraft fee, plus the balance in my account was all gone too despite the paypal order being cancelled.

Strapping Scherzo · Post by **Strapping Scherzo** » Wed Jun 29, 2005 10:39 am

I hate overdraft fees with a passion. I mean, come on! How the hell does it cost my bank $30 per overdraft? Did some guy behind a computer have to click his mouse one extra time? I could understand a few bucks. But getting hit with $30x3 really makes a bad situation an impossible situation. Then you're forced to borrow money from someone. Makes me wanna just keep all my money under my mattress. Except that having a debit card to make online payments is so important to me now.

Gmc · Post by **Gmc** » Wed Jun 29, 2005 10:45 am

Get an arranged overdraft set on your account...they barely charge you anything then

Wagh · Post by **Wagh** » Wed Jun 29, 2005 10:51 am

Strapping Scherzo wrote:I hate overdraft fees with a passion. I mean, come on! How the hell does it cost my bank $30 per overdraft? Did some guy behind a computer have to click his mouse one extra time? I could understand a few bucks. But getting hit with $30x3 really makes a bad situation an impossible situation. Then you're forced to borrow money from someone. Makes me wanna just keep all my money under my mattress. Except that having a debit card to make online payments is so important to me now.

Not everyone pays them. That's why.

Post by **Specially Cork** » Wed Jun 29, 2005 12:20 pm

I dont see the problem wtih overdraft fees. Youre spending money that isnt yours, without even bothering to ask if you could.

Luckily as a student my bank handed me a 1,000 pound overdraft completely interest and fee free. And I get 250 extra for each year of my course. Not bad.

Also, it depends on your bank but quite a few in the UK will let you go overdrawn a couple of times without fees, as long as it gets paid off quite soon and youre not overdrawn by too much.

Strapping Scherzo · Post by **Strapping Scherzo** » Wed Jun 29, 2005 1:06 pm

I know I suck and can't budget my finances.

DCFan2004 · Post by **DCFan2004** » Wed Jun 29, 2005 1:10 pm

My bank just changed its policy on overdrafts, so now I have 5 days to replace any money if I overdraft before they charge me.

Vlad Tepes · Post by **Vlad Tepes** » Wed Jun 29, 2005 1:51 pm

Banks charge so much for overdraft fees to keep you from overdrafting. It's how they make their money. the way I see it...overdraft fees are penalties...not actually fees. You're not paying for a service. You're paying for doing something you weren't supposed to do...much like speeding and then having to pay the ticket. About a year ago I had a credit card with my bank, and at the time I was having financial issues. Any time I overdrafted my account, the amount would be put on my credit card and I wouldn't be charged the overdraft fee. Of course...I still had to pay the interest on the credit card...but that was a whole lot less than the NSF charge.