I received an email early last week from Amazon stating “we have deposited $170 to your checking account.” I thought, “great, money from selling my books, that will go straight to one of my cards.” So, in my eager-beaver way, I logged onto Bank of America and made an online payment.
The $170 didn’t arrive to my account until yesterday and by then I had overdrawn my account and was charged $33. Now I have $6.50 in my account and last night I used my card to buy $10 worth of gas. I scurried over to my ING account and transferred $50 (from our travel fund) into my account in the hope that it will clear before my gas debit does. If not, I can expect another $33 charge. AND, Lending Club is going to withdraw a small amount (under $1) from my bank account in the coming days to verify my account for a possible loan. This would result in ANOTHER overdraft fee.
It’s kind of like watching a train wreck, isn’t it?