Federal Reserve - overdraft limits
in Banking, Insurance & Loans ·
So, here’s my situation: I was allowed an overdraft limit of up to 15.5k through mid-May, but then out of nowhere, they slashed it down by $13. This makes zero sense because my direct deposits hitting the account are totally solid and more than enough to cover the entire $3,280 deficit—which is basically $1080. Now, to make matters even weirder, the app is telling me that on June 15th, they’re going to cut it again by $13. Look, if the bank says I’m allowed to use up to 100% of my paycheck as a buffer, why on earth are they shrinking that cushion when my income hasn't changed? It hasn't even gone up, even if it did by a tiny bit like $3.25! I honestly can't wrap my head around the logic they're using here... it feels like they're just moving the goalposts for no reason. 😢