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Q: How does Wesbanco's Honor overdraft limit work?
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How does an overdraft work?

Bank Overdraft is a facility wherein a bank customer can withdraw more money than what is actually available in his/her account. Let us say I have an overdraft account with ICICI Bank and have only Rs. 5000 in my account, I can withdraw even 15000 or 20000 from my account. I will have to repay this money that I took from them in future or else they will charge me an interest. The bank will also set an Overdraft limit which will define how much money over and above my bank balance I can withdraw.


How does overdraft work?

Bank Overdraft is a facility wherein a bank customer can withdraw more money than what is actually available in his/her account. Let us say I have an overdraft account with ICICI Bank and have only Rs. 5000 in my account, I can withdraw even 15000 or 20000 from my account. I will have to repay this money that I took from them in future or else they will charge me an interest. The bank will also set an Overdraft limit which will define how much money over and above my bank balance I can withdraw.


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How to Recover Bank Account Overdraft Fees?

WaitOnce you notice that you have an overdraft charge, you will need to wait until you know it has been posted. It does not matter if you see the charge online or if you just notice that your balance has been reduced by the overdraft amount. You should wait until the overdraft fee has been completed. While it is still pending, you cannot do anything.Cover Your FeeAfter the overdraft charge has been permanently posted, you can deposit enough money to cover most of the overdraft fee. You should only put in enough money that covers the amount of the original overdraft. You should also only put in enough money to cover the amount of one overdraft fee. If you have more than one overdraft fee, you do not need to worry about it for now.Call Customer ServiceOnce your overdraft fee and your deposit have been permanently posted to your account, you need to call the customer service department of your bank. They will ask you to verify your identity. Do so and then explain your position.Your PositionWhen people are worried about money, they will usually talk in a hard to understand manner. They will also get angry when not everything goes their way. You must remember to stay calm, cool, and collected. If you do not know what to say, you can try explaining that you made an accidental math error and that you feel horrible about it. Explain that you understand that the first overdraft charge is very important for the bank. Next, you will need to ask for forgiveness. Tell the customer service operator that you will try to avoid any more overdraft fees and ask them to forgive the other fees.Go To the BankIf this does not work, then you should visit your local branch. This can usually work better than the customer service department. Branch employees and managers may also be more forgiving than other people may. Dress formally and plead your case once more. If you are told no, do not get angry. This will hurt you more than it will help you.


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