1.00 dollar pre authorization fee cost me 54 dollars?

[Jay]

Ebay decided to ping my card before my weekly pay for 1.00 but i only had 75 cents now my online statement says a 54 dollars overdraft fee.Do you think when that 1.00 clears so will the overdraft fee?

[disneysteve]

I doubt the fee will go away without a phone call to your bank to fight it.

[ua_guy]

Agreed. It won't clear automatically. If this is your first one, politely contact the bank and ask it to be reversed as there was a misunderstanding. Although, it's good practice to keep a minimum balance in there and never go below that threshold if you can help it. Overdraft fees are quite nasty.

[hamchan]

Seriously consider switching to a credit union if you can. That is a ridiculous overdraft fee for a 25 cent overdraft that wasn't even posted. If credit unions are not an option for you I can tell you that neither Wells Fargo nor US Bank have ever pulled a stunt lime that on me, and their overdraft fees are much lower than that.

At this point I have enough of a cushion in my checking account that I don't worry about stuff like this, but what I used to do was just have any recurring expenses like this go onto my credit card. As long as you don't use one that is close to being maxed out the worst thing that could happen was I might have to pay interest on it, but that is a small risk in comparison to getting hit with an overdraft because of an automatic payment I forgot about.

[neatdesign]

Ebay decided to ping my card before my weekly pay for 1.00 but i only had 75 cents now my online statement says a 54 dollars overdraft fee.Do you think when that 1.00 clears so will the overdraft fee?

It is unclear from your post whether your "card" is a credit card or a debit card.

I'm not sure about debit cards, but for credit cards, the authorization itself shouldn't trigger an overlimit fee. Authorizations are just the bank's way of checking that the account is valid. The authorization amount (in this case, $1.00) doesn't actually post to the account -- only the full amount of the charge (in this case, $54.00) does.

So as long as you had $54.00 in available credit when the eBay charge posted to your account, and no other charges posted to your account in the meantime, you wouldn't get the overlimit fee. If you had under $54.00 in available credit and/or other posted charges posted that exceeded your available credit, then that could trigger the fee.

Bottom line: Call the financial institution and ask them to clarify what triggered the overlimit fee and see if they'll waive it. In the future, don't charge anything unless you know for a fact that you have enough to cover the purchase price.

[willuc8]

yeah i agree I doubt the fee will go away.