Does anyone understand banking practices?

[Beestie]

I understand banking practices. And my wife used to run the web site for a local credit union.

Go to the bank Monday morning with a printed copy of the email from the company that indicated they made the electronic debit and ask them to waive the service charges incurred as a consequence of your reliance on that email. Do not accept no for an answer. Escalate to a supervisor if necessary but remain calm/firm throughout.

You are, in fact, overdrawn but that is not a big deal - contact the company who owes you and let them know the transfer did not occur and the consequences you have suffered as a result of their email. However, your client may have done everything correctly so don't assume they messed up. Once you have determined whether or not they really did transfer the $200, either go back to your bank or request a check.

You didn't indicate an exact timeline for the events otherwise I could provide a more detailed response. But suffice it to say that the bank can (and should) remove any service charges incurred as a result of the misunderstanding.

And, for the love of God, never, ever, allow someone - anyone to have access to your account. As well as I know how all this stuff works (and maybe because of what I know), I STILL send checks in the mail to the utility, mortgage company, etc. Yes, its a pain but I never have problems. I have noticed, though, that a few of my vendors (util companies primarily) are receiving my check then executing a direct transfer from my account to theirs without ever cashing the check. There's not necessarily anything wrong with that but it does mean that the amount of the check will be withdrawn the same business day the check arrives - no more 3-5 day lag.

If you encounter resistance at the bank, just escalate to a manager - the pawns are instructed to take a hard line. The managers reserve the right to be generous to themselves.