Wells fargo overdraft fees

Is there a legal limit to the amount of times a bank can charge your account an overdraft fee in a day? Or for the same check being put through again and again? My bank charged me 5- $35 dollar NSF fees today.

I'm freaking out. They aren't willing to work with us at all, even though they KNOW I have a direct deposit going in there in two friggin hours. We are pretty screwed now because everything is bouncing and by the time they are done, my check will pretty much be gone anyway... help!

They can charge as many times as an item is presented and there are not funds, and you'll prob have more fees from the parties you wrote checks to, NSF means the item was returned, overdraft means it was paid, and the banks charge for both.

That sounds about right for nsf fee's.

I have two NSF's and three overdrafts and there were only two checks out...

I'm so mad about this bank switch. It screwed everything up! I was hoping we could make it till tomorrow without anymore so I could pull my money out and open an account elsewhere, but looks like that isn't going to happen

I don't think there is a limit - check your contract with the bank. When you opened up an account with them you agreed to their terms.

Most banks also calculate deposits and withdrawals on a daily basis - so if you deposit $100 at 4pm and spent $75 at 3pm with your debit card you are probably fine. Although sometimes, especially if you have had NSF issues before they will hold whatever deposits you make for a while so they won't actually be available on the same day.

When you write a check the legal requirement is that you have money in the account to cover the check - if you knowingly write a check without having the money in your account you are committing fraud, so I probably wouldn't try to argue with them about the deposit you have coming in 2 hours - since they would counter that you needed to have that money in the account even before you wrote the check.

Credits always post before debits, but if tomorrow is your payday then that is the first day those funds would be available...and they probably won't let you close your account with a negative balance.

You also need to have a zero balance to close an account so if you have any NSF charges that are causing you to be in the negative you won't be able to close the account until you pay for those. 

it doesnt matter if you have a direct deposit hitting your account in 30 mins or 2 hours. plus banks cant guarantee you are getting a direct deposit either. i worked for one, we couldnt see any pending dd's in the system we used. plus it just dont matter to them. if the money is not in the account at the time it was presented then thats it. you can calculate how much you are going to get if you know you have overdrafts and nsfs. sorry :(

Nope they won't let you close with a negative balance:(

Also I have never seen them back down on reversing fees, as kristin mentioned you need to have the funds in the account when you write a cheque. I once had 2 cheques bounce on my account years back and they reversed it because it was a genuine error....I accidently deposited a cheque into my savings account instead of my chequing account. The banking info reflected it:)

Since my paycheck is getting deposited, the account will not be negative, so I will be able to close it.