Earlier in the week I went to the bank to deposit a check I received from a speaking engagement.  As I explained in an earlier post, once money is deposited, I transfer portions of it to other accounts.

A few days after I made my deposit and online transfers, I noticed I had four overdraft charges for $25 each ($100 total for those who aren’t quick with math).  Apparently what had happened is I made my online transfers before the check had technically cleared which caused other purchases to bounce.  It wasn’t really that I didn’t have the money in the account, but just that it hadn’t cleared.  My fault.

But rather than just accepting $100 in fees, why not ask to take them off?  What’s the worst that could happen?

They might say ‘no’…ouch, that hurt.

So that morning, I sent an email to a bank employee.  I had the card for the lady who helped set up my business checking account, so I just emailed her.  It’s important to note that I could have just as easily called my local branch and explained the situation to any account rep.

Just so you can see an example, here’s the exact email I sent…

Amy…

Hope you’re doing well…

I made a deposit into my business checking account (list account # here) on Monday and then transferred some of the money to my savings account online that night.  Apparently the check hadn’t cleared so I got 4 overdraft fees on my account.  I do this all the time where I make a deposit and then transfer the money later that day and have never had a problem.

I wanted to see if you could get these fees taken off my account.

If you need to get a hold of me, feel free to call me at XXX.XXXX.  I appreciate your help!

Grant

Pretty simple and straight forward right?  Here’s the response I got a few hours later…

Good Afternoon Grant,

I am going to go ahead and refund the 4 overdraft charges on your account.  What happened is when you made your deposit on the 10th it was at 3:30 pm so it was after the cut off time for the day of the 10th which is 3:00 pm so the deposit was credited for the next business day which was the 11th.

When you made your transfers it was done at 4:39 pm on the 10th and the cut off time for online banking is 7:00 pm so it was credited on the business day of the 10th.

It was just a matter of the business day cut off times in this situation.

If you have any questions please let me know.

Thanks!

Amy

Wow, that was easy!

Realize too that this doesn’t just apply to bank overdraft fees involving a small timing error.  If it wasn’t a timing error and was genuinely 100% my fault, I would still contact them and ask for a refund.  This applies to any fee that you may ever get.  Late fees, overdraft fees, ATM fees, credit-limit fees, etc.

The worst that could happen is they say ‘no.’  But they can’t say ‘no’ and they definitely won’t say ‘yes’ if you don’t ask.

YOUR 2 CENTS: Have you had any experiences where you had fees removed just by asking?

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2. Can I Use My Savings Account The Same Way I Use My Checking Account?
3. How Do I Balance A Checkbook? (Part 3)
4. What Kind Of Payment Should I Use When Making Purchases?
5. What Should Students Do With Their Money From The Time They Receive It? (Part 5)