Overdrafts and negative balances: What's allowed?
in Banking, Insurance & Loans ·
Look, I’m freaking out here because I am genuinely terrified of what they’re going to do with my overdraft limit. So, I’ve got this account open at Chase, and they gave me an authorized overdraft of $10000... but now they’re looking to slash it by the end of the month. My deposits haven't been anything massive—just three paychecks, some Christmas money, and a few small transfers. Basically, my total inflow over those three months was roughly 12 $0.00... so, has anyone else dealt with this exact situation where they dropped a 30,000 limit? I’m dying to know how much they’re actually going to leave me with.
And honestly, just how much power do they even have to cut my limit? Because my previous limit was 11,000...
And honestly, just how much power do they even have to cut my limit? Because my previous limit was 11,000...