Why is my PNC balance negative?

PNC allows a $5 margin of error. If you’re overdrawn by $5 or less, PNC will refund any overdraft fees. Also, if you overdraw your account but then deposit enough money to be within the $5 margin by the end of the business day, you won’t be penalized. PNC will automatically refund any overdraft fees.

What happens if you don’t have overdraft protection?

Without overdraft protection, your bank can still charge a non-sufficient funds (NSF) fee that can be comparable to an overdraft fee if there isn’t enough money in your account to cover the debit. These fees can add up quickly if you make several transactions before you realize your account is in the red.

What happens if your account balance is negative?

The bank begins to debit a penalty, which often results in the balance turning negative. Although banks do not pursue recovery of the amount due under negative balance accounts, the customer stands to lose if he deposits funds into the account.

How do I get a negative balance waived?

If you’re charged an overdraft or NSF fee, contact your bank and ask them to waive it. It can never hurt to ask, and if you have not had this problem before, the bank may be willing to waive the fee as a one-time courtesy. Alternatively, if you can’t get rid of the fee then be sure to pay it.

How do you get overdraft protection?

When signing up for overdraft protection, you will need to link at least one backup account (like a savings account or credit card) to your checking account. If the checking account does not have the funds to cover a transaction, then funds are automatically pulled from one of the linked accounts to cover the amount.

Can you withdraw money with insufficient funds?

It is possible to withdraw funds beyond the account balance, but they are subject to repercussions, bank terms, and fees. Funds withdrawn beyond available funds are deemed to be overdrafts that can incur penalties.

How long can you be negative in your bank account?

Banks normally close overdrawn accounts after a period of 60 days, while credit unions close the accounts after just 45 days. The bank charges off your account, which involves closing it and forwarding your account information to the collections department.