commonwealth bank issue of Overdrawing Approval Fee

[khulu74]

I have a paypal account where my money comes out my savings and when there is not enough funds and my back-up is my credit card, but in this case commonwealth bank have allowed the funds to be overdrawn on my savings account in which they charged me a overdrawing approval fee of $10.

This has never happened before on my account obviously the CBA have changed conditions without notice and making money from their customers.

For example I purchased an item for $30 which I paid via paypal. I had $17.58 in my savings and my back-up of my credit card should have taken out $12.42 but now I owe the bank $12.42 plus a fee of $10. (in total of -$22.42 on my savings) The CBA are stopping transctions going on to the credit card.

Previously the transaction on my savings account would have not gone thru and would have been paid via my back-up of my credit card, but the CBA have changed the rules so that it does not go thru my credit card, now my savings is in negative and on top of that I get charged a fee that I did not approve.

WHO'S MAKING THE MONEY HERE?....CBA  

[leader-of-the-band]

I did a similar thing on my NAB account and they did not charge me a cent.  I realised that I had overdrawn and I went in and deposited suffcient funds as soon as I could and I was very pleased when the NAB teller told me "no charge or fee for overdrawing"

[lyndal1838]

If you knew the funds were not in your bank account you should have changed your funding source to your credit card in the first place.  Paypal does not know that there are insufficient funds in your bank account.

[purplesuz68]

Have you tried calling the bank and asking them to reverse it? I am also with Commonwealth, and over the years I have been overdrawn a few times and they have reversed the fee for me when I phoned them.

[patchoo78]

They can probably reverse it if you weren't aware of it.. In the OP's case, they neglected to change the funding source from Bank Account to Credit card..

As Lyndal has said, PayPal have no way of knowing that you have insufficient funds in your bank account... YOU have to tell PayPal from which payment source you want the payment taken

[lane-ends]

Sometimes CBA will reverse fees if you jump up and down enough, depending on the staff. They dont want to loose a customer over a piddling one off fee.

[superscanner4]

That same thing happened to me a while back.  I wish I'd known I could have phoned and had it reversed.