How to Deal With a Negative Bank Account
Negative bank accounts can be very stressful. If the negative account is not corrected immediately, the bank has the option of closing the account. The majority of people who find themselves with a negative bank account did not set out to overdraw an account. Most of the time, a debit or check is overlooked and not recorded in the check register, leading to a negative balance.
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Instructions
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Know exactly how much your account is overdrawn by logging into your bank account online or calling the automated telephone banking services. Most banks charge a service fee for each item presented to a negative balance. It varies by bank, but the range is $25 to $40 per item. This can add up quickly if you have several items presented against a negative account. Go over your check registry along with what the bank has so you know exactly what amount began the negative balance. Having all this information will be helpful when speaking to the bank.
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Telephone the bank and speak with a customer service representative. It is normally easier and less stressful to speak to someone over the phone than to go in person to the bank. Explain the situation to the representative, and be very apologetic but professional, you don't want to sound like you're acting. If you do not have the funds to pay the overdraft fees, most banks will waive the service fees or some of them especially if it is the first time the account has been overdrawn. Ask the representative if there is any way the service fees can be reversed, explaining that you are not able to pay them but could take care of the actual negative balance immediately.
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Make the necessary arrangements to bring the account to a positive balance. This can be accomplished by transferring funds from another source into the account or if you have an automated incoming deposit, the account will balance itself out and take the negative amount out of the direct deposit. It is vital to take care of the negative balance immediately, especially if you were successfully able to have some or all the service fees reversed.
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Tips & Warnings
When calling the bank to remove service charges, be especially friendly and never demand that they remove the charges. It is a courtesy and normally the customer service representative has the authority to remove some or all the charges. They do not have to remove the fees especially when it is not the bank's fault. Once the account is back in the positive, make sure to keep accurate records in your check registry to avoid any future overdrafts.
