I have sevaral ACH payments coming out of my account every month and they don't always come out on the exact same day. Your bank receives the info from the insurance company a couple days before the payment is due and it normally will take a couple business days before your account is debited, but it doesn't always happen that way. Your bank may very well be the one responsible for the money coming out a day early.

I would tell your bank you don't want the overdraft protection on your account anymore. It's better to get a $25.00 fee form the insurance company, then $280.00 from your bank.

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Formerly Kimberly75!

I'm sorry. We've all done it - and the ones that say they haven't I believe they're lying. Thank goodness for BofDad. I've used mine a couple of times in life as well.

That is also why I'm so dang crazy about not having automatic payments coming out of my account. I think all we have is Netflix and I'm not wild about that one either. Try to see if you can change that one.

My payments are exactly on the date that the company said they would take them out. That is unless that date falls on a Sunday. In that case it is taken out on the next day Monday.

I agree w/ Melsb. Maybe you can halt the electronic payments while you figure out what happened and ensure it doesn't happen again?

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I have my bank set up so that I determine the date of when they payments come out. I set them up on the payday so the money is taken out before we have a chance to spend it. I used to have a few that would just take the money out on a certain day, it was to hard to make sure I would have money on THAT day that was no where near a payday. SO I cancelled them and now pay them through my bank.

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This is exactly why I avoid automatic payments as much as possible. I'd see if the insurance can be changed to pay the old fashioned way, with a stamped envelope. Can you pay your bill online instead, when you want the bill paid? I do this with many bills instead of having automatic withdrawals.

I avoid auto-drafts if at all possible for the exact same reason. I want to be sure that the money is there before the transaction is made, and sometimes things come up (car repairs, illnesses, etc.) that cost money we hadn't planned on spending, and I have to juggle other payments by a few days to get to the next payday.
The only auto-draft we have is the credit card, and the only reason that is done that way is because that's the only way we could get on the financial hardship payment plan.
We go online and pay everything except the house note and life insurance after we see that paychecks have been posted and the funds have been made available. The house note and life insurance get paid by mailing a hard check.

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Yes, this is also why my DH and I limit autodraft with our checking accounts, with the one account we only have life insurance taken out monthly on a set date and the other account only the house payment comes out of it on a set date and the items are never deducted early, if the due date falls on a Holiday or weekend then the next business day they are deducted.

Big ((HUGS)), hope everything gets straightened out.

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You mean them charging me $40 per overdraft is a SERVICE?!?!

Won't happen again with this bank. DH wants me to close it out and open an account in the town 5 miles away - instead of having to drive 30 miles to deposit a check. We only had an account with that bank because DH was working so much and the bank was right next door to his store. We only had 1 car, so it was important to have easy bank access - and he did. He hasn't been working for the better part of a year, so I have had to drive 30 minutes just to go to the bank. He asked me to close it this week and open a new account at our old bank - easier access for me and he is angry about the way they posted the transactions.

The only 2 things we have taken out are car insurance and Netflix. But with this bank, if the date falls on a weekend sometimes it is deducted the business day before or sometimes the one after. I take extra precautions to have the money in there for those times. But this time, the date was in the middle of the week -- so I figured I was okay (like I have been for years).

Ours - not like that. Case in point: Netflix payment to be deducted 10/15 - posted to our account today, 10/14.

They made NSF fees a service??.. that just boggles my mind. Really? Like you can choose not to pay overdraft charges? I thought they were a unchangeable penalty for not keeping enough in your account. I didn't realize you could opt out of them! I've had the moments in the past where my card was denied because there wasn't enough money in the bank. I just didn't know it was an optional thing. I thought banks just put that into their way of doing things. Seriously. I feel like a total moron now...

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Your not a moron. This is just how banks screw people over.

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Formerly Kimberly75!