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Etiquette

Have you ever bounced a cheque / pre authorized payment?

My wallet was stolen earlier this week at work, and I cancelled my debit / credit cards etc. 

My car insurance is on as a pre-authorized payment. I cancelled all of my cards on Monday, and completely forgot about the PAP. 

The charge came through today as a $50.00 NSF fee tonight on my online statement. 

This is the first time I've ever had an NSF. Do you think I can contact the back and negotiate getting the NSF charge back onto my account? 

I know I still have to pay my insurance, but on top of the stolen wallet this week, I now have to pay my bank $50. UGH. Do you think they can budge on this, or is it not even worth trying? 

Also, I've had my car insurance deducted from my chequing acct every month via PAP for 7 years - I don't even know who to contact re the bounced cheque. Should I just wait until they contact me that they haven't received payment, or should I try and track someone down? 
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Re: Have you ever bounced a cheque / pre authorized payment?

  • I don't really have anything to offer other then I would call tomorrow and track someone down to tell them what happened and to get your account straightened out so they can get their money.

    Sorry this happened.
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  • Yes, I would definitely contact the bank to see what can be done about the NSF charge.  I think you have a legitimate reason for it to be waived.
  • LoopysevenLoopyseven member
    5000 Comments Fifth Anniversary 5 Love Its
    edited June 2010
    Make sure you take care of the insurance payment one way or another ASAP.  I have a friend who was short on his payment due to an NSF situation and they cancelled his insurance. The next day (he hadn't gotten the notice of insurance cancellation yet) he was in an accident and spent the next 5 years paying off his wrecked car (and riding the bus) because insurance wouldn't pay for it since he wasn't covered and he couldn't afford to fix it, or buy a different car,  and didn't want to screw his credit up by having it repossessed for non-payment.

  • Most banks will work with you, especially since its the first time it has happened.  Call, explain the situation, and ask to have the fee refunded.
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  • Something similar happened to me 2 weeks ago, the car insurance withdrew 2 payments from my bank account, by the time they put 1 back in , I had 2 overdraw fees. I called the bank and let them know it was an error and they refunded me.

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  • If you have a specific branch that you go to I would go there rather then calling. I have found that people are more willing to help when you are in person.
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  • NebbNebb member
    10000 Comments 5 Love Its Combo Breaker
    Jesus banks down there are nice. Any time i have gotten an NSF (never my fault, btw, always the fault of stupid companies taking itout on the wrong day or the wrong amount), and the bank has always refused outright to do anything for me.
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  • It's always worth at least trying, especially if you have a police report or something that proves that your wallet was stolen.  All you can do is try, if they say no, then you'll just have to suck it up as a lesson learned.
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  • Just call them. If they look at your records and see that you're normally a model account holder, they'll probably credit it back.

    One time FI accdientally selected the wrong account tomake a payment out of, andpicked the one from where we used to leave that only had a few dollars in it beacause we were planning on cancelling it. It happened on a Friday after business hours so for 3-4 days he was getting charges from both ther bank and American express until he could call them when they were open. He explained what happened and they credited everything, saying make sure to be more careful next time,

    Since your wallet was stolen I'm sure they'll take it off. GL!
  • When I worked at a bank, we were pretty liberal about refunding fees.  I agree with PP who said go in person to your branch, if possible, and speak to a bank officer.
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  • edited June 2010

    When I've called and asked about it with unusual situations (not stupid mistakes on my part), my bank has waived NSF charges multiple times.
    I had authorized my student loan to automatically come out; they told me it would take 90 days to start. I paid the next month's bill, and lo and behold - it ALSO came out automatically. I had 4 NSF charges. The bank refunded 3 of them (that was their max limit).

    It NEVER hurts to call and ask, explaining the situation.

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  • If you canceled your cards, a PAP should have still gone through, unless it was connected to one of your cards. You didn't cancel your whole bank account did you? That would be overkill.

    If it was connected with one of your cards, then the banks are no longer supposed to honor it, I think. That was one of those new regulations.

    My advice, take care of that overdraft fee ASAP, because it could cause you to get another overdraft fee (trust me on that one). Banks usually don't reverse them, because it is your responsibility to keep enough money in your account to cover your PAPs. Not having a debit or credit card does not excuse you from having money in your account. The only exception they may make is if you reported fraudulent charges and they haven't credited your account for them yet, and that made your check bounce.

    And call your insurance company. I'm sure there is a number on your id card.
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  • I work in insurance. Definitely call right away. When we have an NSF it gives you a little bit of time to pay, but technically they don't have to. Generally you are paying up front for your coverage for the rest of the month. Without that payment the company is not required to provide you coverage. So make sure you get it contact with them so you can submit a replacement payment.
  • edited June 2010
    Thanks everyone! I called the bank and they returned the $50 no problem. They actually apologized for charging the the NSF. 

    The insurance company was not so kind. I still have to pay them a $25 admin fee for the NSF. They said the charge goes on automatically and they can't take it off for any reason. It sucks, but paying $25 is better than paying $75
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  • aragx6aragx6 member
    2500 Comments 5 Love Its Combo Breaker
    I never really believe people when they tell me they can't do something -- more like they don't want to! But regardless, it sounds like the situation worked itself out about as well as could be hoped for!
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  • In Response to Re: Have you ever bounced a cheque / pre authorized payment?:
    [QUOTE]I never really believe people when they tell me they can't do something -- more like they don't want to! But regardless, it sounds like the situation worked itself out about as well as could be hoped for!
    Posted by aragx6[/QUOTE]

    Oh for sure... I knew she was lying. I'm going to call back tomorrow and try my luck with another rep.
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