twinkie1306 asked:
If a payment is made on a credit card through a wachovia account and the wachovia account is in the negative, what would happen? Would wachovia pay the balance and charge a fee or would it just not go through?
If a payment is made on a credit card through a wachovia account and the wachovia account is in the negative, what would happen? Would wachovia pay the balance and charge a fee or would it just not go through?
#1 by Angie - December 27th, 2009 at 18:02
It really doesn’t matter because “paying” with an account that is under funded would be fraud. Have a nice time in jail.
#2 by Brian - December 29th, 2009 at 12:18
If you have some kind of overdraft or credit line on it, perhaps.
If the Wachovia account is also a credit card and they decline charges if you are in the negative, it shouldn’t go through…. unless your particular card allows it.
Sorry, it’s one of those “It depends” things.
#3 by Luis - December 30th, 2009 at 23:19
considered fraud
#4 by OC1999 - December 31st, 2009 at 15:29
One of three things will happen.
1. Your payment will go through from your Wachovia Account, and you will be charged an Overdraft fee. If you don’t get back to a positive status they may charge you a daily overdraft fee. If after 30-45 days if you are still negative they will turn your account over to collections and put you into ChexSystems making it almost impossible to open up another account at a major bank.
2. Your payment is rejected. You then get charged a Returned Check Fee on your credit card, a late fee on your credit card, Additional interest. Then your wachoiva account will be assessed another return fee(yes they also charge you a fee if they reject a payment).
3. They will consider this “kiting” which is a form of Check Fraud. In this case they will immediatly close both accounts and possibly turn you over to the local District Attornies office.
The best thing to do if you are having problems is to contact the Credit Card and see if they can work with you on some payment arrangements.