What is a Time Account?

Oh no, first time I have a negative balance in checking account! What will the credit union do?

• I use Harborstone Credit Union. Today I got my check, but did not take it into the bank figuring I would be fine until tomorrow - NOPE! Just my luck, Put a full tank of gas in my car and now my balance says - $5.12! Are they going to charge me? I just transferred $50 from my savings account to my checking account, so maybe that will help, but I don't want some gas company coming to me saying they took my payment back or something...? I am 18, and have only had my checking account for about 6 months. This has not happened before.

• Answer:

  IF you are at a negative balance it means that the Credit Union did pay the amount owed. But now you owe the $5.12 back to the bank as well as a possible negative balance fee. This is anywhere from $10-$35 depending on bank/credit union and is a per transaction fee. So if you wrote a check that took you -$5 and you had another one that came in and dropped you by another $5 then you'll be charged twice. Try not to bounce checks like that. The fees are very harsh and can screw you over in the long run.