Chase ATM shows positive balance when account overdrawn
As reported here, we can only wonder why in the world would a Chase ATM show a positive balance when an account is overdrawn, unless you consider that Chase would happily give you money at an ATM so they can charge you an overdraft fee.
Bad bad Chase, Fees & charges | admin May 16, 2010
1 Comment
Other Links to this Post
RSS feed for comments on this post. TrackBack URI
By coakl, January 11, 2011 @ 11:46 am
The ATM, like online banking or teller receipts, shows two balances.
“Present balance” includes all transactions that have posted. It doesn’t include pending debit card charges that have been authorized but not posted.
“Available” balance is what you can use. It takes into account pending debit card charges and deposits that aren’t available yet.
It’s quite possible to have a positive Present balance and a negative Available balance during the day. If you see that, run, do not walk, to your nearest Chase branch and bring enough cash to bring your account positive.
You can’t overdraft your account at a Chase ATM. It simply won’t allow cash withdrawals if your Available balance is negative. WaMu ATM’s would have allowed you to do that.