I had $50 in venmo, which I used to purchase groceries, because my bank account is currently negative.
Instead of using the $50 in my bank account, instead, a week later the $50 came out of my bank account, not touching the Venmo balance at all.
So now I have an overdraft fee, effectively meaning I paid 1.5 times for those groceries.
I don’t have “overdraft protection,” I’ve told my bank I don’t want overdrafts to go through, but fuck me for being poor I guess.
Not trying to lay blame, but doesn’t Venmo ask where you want the money to come from every time you send money? They don’t know your bank balance…
Overdraft fees are evil. Some banks will even clear transactions to result in the most overdrafts without regard to which order the transactions took place. For example if there are two transactions, one for $100 and one for $5, and account balance of $50, they’ll purposely clear the $100 transaction first so both transactions trigger overdraft fees. They could clear the $5 first so only the $100 transaction triggers a fee, but nope.
Also, if this is your first overdraft you might have luck calling the bank and asking for forgiveness. I did that once in college and they refunded the overdraft fees.
No, unless that shows up if you are transferring in the app. It did not ask me where the money would come from. I was using a grocery delivery service and selected Venmo as my payment option. I assumed that selecting Venmo over my bank would take it from my Venmo.
I already got my credit union to forgive a charge on an accidental 1.99 purchase. I don’t think they’ll do it again.
I have even less hours this month. I’ll probably just end up driving off a bridge. There’s no way I’m ever going to be financially solvent again.
Grocery delivery service sounds expensive… but I don’t know where you live.
It is, but it took Venmo and I don’t think Walmart does. I needed groceries and that seemed to be the best option with my only money being the $50 in the Venmo account. I thought about asking someone if I could send them the money and get cash instead, but didn’t have anyone I could do that with.