Bank Acc Overdraft and Steam Purchase

[Rippo]

Long story short, i had 59 cents on by debit card for checking, and 1 dollar in my savings. I bought this game called Gun Done on the steam summer sale for 49 cents. What ended up happening was that steam charged me an extra dollar, causing the overdraft protection on my wells fargo acc to be used, and use money from my savings. I know have only 10 cents in my savings. What I'm asking, is do i have to pay the overdraft protection fee? And why did steam charge me an extra dollar? (Note I'm in HIghschool and I would first like to know if I can solve this problem myself instead of getting scolded)

[tmwfte]

Talk to your bank.

The answer is probably yes, though.

[Rippo]

So I have to pay the ♥♥♥♥♥♥♥ overdraft protection fee? Like, even tho the steam recipt shows it cost 49 cents?

[Plaid]

Steam is listing a lot of false prices (things listed as 49 cents are really 94, etc), and in the first day of the sale I wasn't getting ANY e-mail confirmation for my purchases.
Fix your stupid, Valve.

[tmwfte]

Originally posted by ŤĤẸ ŤĮƤƤẸŘ:

So I have to pay the ♥♥♥♥♥♥♥ overdraft protection fee? Like, even tho the steam recipt shows it cost 49 cents?

Banks usually tend not to care what triggers a negative balance, only that it has and even if the transaction that causes it is a $1 "test" charge that is returned.

[Rippo]

So despite this 1 dollar being returned, i have to pay the overdraft fee?

[JJ, Professional Fool]

Welcome to the real world. Hard knocks. Be greatful it only took a single dollar for verifications. Stick to steam wallet codes GG.

[Azza ☠]

For overdraft to kick in here, you would need to be at least 18 years old. Then it's a monthly charge, till paid back. A child for example wouldn't be able to get himself in debt by it - it wouldn't apply to them, the payment would just bounce/decline.

As for the dollar charge by Steam. That's just a credit card check. It's a test transaction of a $1 which bounces back to your account. Used commonly on first time online transactions with a new card to security check it's valid. They also tend to check the owners details of the card against the purchasers details and location.

[Washell]

Do a refund within 24 hours, and Valve will cancel the charges, which may get you out of the overdraft fee.

Please note: When a refund request is approved within 24 hours of the purchase, the original transaction is cancelled and the charge drops off your bank statement. In this case, you will not see a credit on your account. This process can take up to 10 days – wait time for international payment methods may vary.

https://support.steampowered.com/kb_article.php?ref=4873-QOSK-5126#where

[Rippo]

Originally posted by Azza ☠:

For overdraft to kick in here, you would need to be at least 18 years old. Then it's a monthly charge, till paid back. A child for example wouldn't be able to get himself in debt by it - it wouldn't apply to them, the payment would just bounce/decline.

As for the dollar charge by Steam. That's just a credit card check. It's a test transaction of a $1 which bounces back to your account. Used commonly on first time online transactions with a new card to security check it's valid. They also tend to check the owners details of the card against the purchasers details and location.

The acc is under my parents name, but It's my debit card with my name and ♥♥♥♥

[Azza ☠]

Originally posted by ŤĤẸ ŤĮƤƤẸŘ:

Originally posted by Azza ☠:

For overdraft to kick in here, you would need to be at least 18 years old. Then it's a monthly charge, till paid back. A child for example wouldn't be able to get himself in debt by it - it wouldn't apply to them, the payment would just bounce/decline.

As for the dollar charge by Steam. That's just a credit card check. It's a test transaction of a $1 which bounces back to your account. Used commonly on first time online transactions with a new card to security check it's valid. They also tend to check the owners details of the card against the purchasers details and location.

The acc is under my parents name, but It's my debit card with my name and ♥♥♥♥

If it's paid back within the same day, it would commonly be ignored.

If the bank does apply a fee, just call them up and ask them to waive the fee (giving your reasons). A trusted/quality bank will happily waive that fee for you.

It's not a big deal, unless you stay in overdraft, not paying it back for months. Here it would get charged on an end of month basis, but some banks charge on a daily basis.

[Rippo]

So it seems I have to contact the bank and explain this to them, hoping this overdraft fee will be turned over, or do I have to pay actually have to pay the fee despite all this. And why did steam never inform of charging an extra dollar? Would it not have to specify? These transactions have a lot of holes, and problems like these arise and I simply don't want to be seen as a irresponsible in my parents eyes.

[Washell]

Originally posted by Azza ☠:

If it's paid back within the same day, it would commonly be ignored.

If the bank does apply a fee, just call them up and ask them to waive the fee (giving your reasons).

It's not a big deal, unless you stay in overdraft, not paying it back for months. Here it would get charged on an end of month basis, but some banks charge on a daily basis.

It's not an actual overdraft. The bank is charging a fee[www.wellsfargo.com] ($12.50) to transfer money from the savings account to the checking account to prevent an actual overdraft from happening. A fully automated system that costs them next to nothing to run, but rings up $12.50 in pure profit each time a customer makes a mistake.

Originally posted by ŤĤẸ ŤĮƤƤẸŘ:

I simply don't want to be seen as a irresponsible in my parents eyes.

Juggling around with the last few cents in a bank account is irresponsible for the reasons you just found out. Sales tax, transfer fees, plain error by a clerk entering the amount, with zero margins, these things can hurt. So you play it safe.

[Rippo]

So call the bank to clear things up, and if the worst is to come I end up paying $12.50?

[Washell]

Originally posted by ŤĤẸ ŤĮƤƤẸŘ:

So call the bank to clear things up, and if the worst is to come I end up paying $12.50?

Yep. Also, people working for a bank, handling these calls, get yelled and cursed at an awful lot. A bit of honesty, politeness and admitting you played it too close to the edge can go a long way into making their day, and getting your fee waived as a result.

[Washell]

Also found this on the Wells Fargo site:

There are common reasons that a $1 charge may appear in your online Account Activity:
Debit Card Activity. Sometimes merchants perform a test charge to verify your account before authorizing a debit card purchase. These charges are usually for a nominal amount such as $1. Once the actual purchase is charged to your account, the $1 test charge is removed.