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How does this work? You have $1000, spend $600. You now have $400. How does the bank allow an overdraft here? Why isn't the transaction rejected? I guess this
by hashmush 3y ago
How does this work? You have $1000, spend $600. You now have $400. How does the bank allow an overdraft here? Why isn't the transaction rejected?
I guess this is a debit vs credit card thing?
- scarface_74 3y agoYou can have your bank account set to allow overdrafts or reject them. But even then, it works different if you’re using it at a point of sale with your debit card and a scheduled payment that doesn’t immediately show up as pending. It’s just a hassle that can easily be avoided by separate joint accounts. Of course we have a small savings account that takes care overdrafts automatically (with a $12 fee).