Hi!
I am embarrassed to admit I let a credit card payment be paid by bill pay and there wasn't enough money in the account. A line of credit paid the bill . I am unsure fees involved because I am usually super diligent about this stuff!
My problem is I need to get cash there so it doesn't keep happening next week. I have 5k I can send from Merrill edge today. Won't arrive immediately. I can transfer the 5k to boa and write a check to myself and go to key bank and deposit? I can do nothing and keep letting account credit pay.
Forgot to mention I usually set up my credit card bills to be paid on last they are due. I guess I can still stop payment on early next week bills then ask for fee waive from credit card companies. This option will hurt my credit I'm guessing which is currently in the 800s.
Need to sell vtsax Mon to create liquidity. I am learning a lesson here. I have 200k in taxable stock funds that aren't helping. This is a very rookie mistake!
Any thoughts? Something I am missing? What is the least worst option. Thanks!
Overdraft key bank
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Re: Overdraft key bank
Check will likely still take a few days to clear, but Key Bank may make some part of it immediately available - check with them on the amount, if any.
Since it's a Saturday I think that limits your wire options.
How much money are we talking about? Can you transfer to BOA, get cash, bring that to Key and deposit it?
Since it's a Saturday I think that limits your wire options.
How much money are we talking about? Can you transfer to BOA, get cash, bring that to Key and deposit it?
Re: Overdraft key bank
I should be able to transfer and do that..... totally didn't think about that....
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- Joined: Mon Jan 22, 2018 2:55 am
Re: Overdraft key bank
I’m not sure I fully understand the funds flow here, but are you able to transfer money by Zelle? There is a usually a low maximum (my bank limits it $3000 per day), but it near instantaneous. I just transferred $100 to myself as a test, and it took 15 seconds for the receiving bank to credit the deposit after I hit SEND.
Re: Overdraft key bank
What bill(s) do you need to pay this week? Most bills you should be able to step in and pay from a different account proactively. In that case, step one, move from Merrill Edge to BOA. Step 2 go online or call the the credit card company and pay the bill by ACH using the routing number and account number of the BOA checking account. In my experience, the auto payment from the Key Bank account should be stopped without other action but I would probably call and confirm.
Re: Overdraft key bank
THIS!! Doesn't matter whether it is a weekend. If the overdraft is not super high, you should be able to do a Zelle transfer to self.Doctor Rhythm wrote: ↑Sat Apr 01, 2023 2:30 pm I’m not sure I fully understand the funds flow here, but are you able to transfer money by Zelle? There is a usually a low maximum (my bank limits it $3000 per day), but it near instantaneous. I just transferred $100 to myself as a test, and it took 15 seconds for the receiving bank to credit the deposit after I hit SEND.