Our free Overdraft Rewind ® function
Once the bank gets your direct deposit by 9 am time that is local we’re going to immediately add this quantity in a reevaluation for the previous day’s deals that led to an overdraft or returned/non-sufficient funds (NSF) item cost. The financial institution will determine a balance that is new which include your pending direct deposit (less any pending debits), and employ this stability to reevaluate the last day’s deals and waive any costs for deals that will have now been included in your direct deposit.
Overdraft Rewind is a automated function of the consumer deposit account that receives Direct Deposit. There isn’t any sign-up that is additional enrollment required.
We get many incoming direct that is electronic before 9:00 am each working day. Aided by the Overdraft Rewind function, we’ll initiate a “second review” associated with the previous day’s transactions in your account at 9:00 am regional time. It, we will use funds from your direct deposit to reevaluate the transactions and waive the overdraft or returned item/NSF fees that would have been assessed if you had an overdraft or returned/NSF item on the previous business day and your direct deposit would have covered.
We’ll calculate a balance that is new which include your pending direct deposit (less any pending debits), and employ this add up to reevaluate the last day’s deals in your account and waive the overdraft or returned/NSF product charges for deals that will have already been included in your direct deposit.
On Thursday, your available balance is $50. That evening, we spend A ach that is automatic payment $55.00 and a check for $60.00, making your account overdrawn by $65. Two $35 overdraft charges is likely to be charged for your requirements.
On Friday, the financial institution gets your direct deposit of $500 before 9:00 am. Continue reading “Wells Fargo Overdraft Rewind And Overdraft Rewind”