Saturday, November 14, 2009

What Are You Thinking? - Not Removing Funds Until Too Late

Here we go with a "What are you thinking" post...for the uninitiated I got this idea from Alex Shebar, who worked at the Enquirer until layoffs earlier this year sent him out the door. He posted several things about local quirks...I started out with the same thing, but for this post, I'm transitioning to a more broad-brush idea.

Recently, I took a trip to a local bar/eating establishment on KY 18 in Florence. (Here's a hint: it features some hot women in distinguishable uniforms.) I was there for lunch with my stepfather and brother on a Tuesday afternoon.

As was my custom, I paid with my credit card when the bill came around and needed settled. I didn't think twice about it, expecting the money would be withdrawn right away, so there would not be an issue with me not knowing how much I had left in the account.

How stupid I was.

Turns out, they did NOT withdraw the funds from the account for 3 days! Big, big problem...I didn't have the funds there by this point (I was short by JUST less than 4 bucks) - and consequently was hit with darn near 40 bucks in overage fees! Boom. I was now 47 bucks in the red.

Luckily, my mom came to the rescue and bailed my fat out of the fire.

But...the fact remains that the money didn't come out of my account for 3 days. Had it come out right away, I would have been a LOT smarter.

I know where I'd have been. Had the funds come out on the 3rd as soon as I spent them, it would have left me with just over $85. I wouldn't have spent much else past that at that point.

Still, the fact that places are ALLOWED to wait up to THREE DAYS before taking's frustrating. Especially since ATM's take the cash automatically...

Bottom line, to those businesses that wait 3 days or more to take funds out of accounts...WHAT ARE YOU THINKING???

Courage + Belief = LIFE

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