Been there, done that-write a check on Wednesday,Then a check on Thursday for purchase plus cash,then the cash to bank deposit to cover the checkwritten on Wed. And get paycheck to bank during lunch hour Friday to cover Thursdays check.The bank I have now does not issue overdraft the minute a check comes in – you have until the end of the day to cover it.One time recently I wrote a check for $25 and for some reason it went through three time – and with a balance of $75.01 came within 2c of an overdraft!
The worst experience was about 25 years ago, had a 16c overdraft for three days and billed $15.(I don’t deal with that bank anymore.)Can someone calculate the APR on that "loan’?
Been there, done that-write a check on Wednesday,Then a check on Thursday for purchase plus cash,then the cash to bank deposit to cover the checkwritten on Wed. And get paycheck to bank during lunch hour Friday to cover Thursdays check.The bank I have now does not issue overdraft the minute a check comes in – you have until the end of the day to cover it.One time recently I wrote a check for $25 and for some reason it went through three time – and with a balance of $75.01 came within 2c of an overdraft!
The worst experience was about 25 years ago, had a 16c overdraft for three days and billed $15.(I don’t deal with that bank anymore.)Can someone calculate the APR on that "loan’?