The hidden cost of using a debit card 💳

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If you don’t have enough money on your debit card to purchase something, the purchase will still go through. The bank covers it for you, and instead you have to pay a $30 overdraft fee. Usually, if you call the bank and let them know they can waive that fee for you!
Let me know your thoughts in the comments!
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[@faaresq-moneytips]

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[@Smokealarm92]

Thx for the step tip now I can use my debit card for things I could use :D

[@Smokealarm92]

Ok after i reviewed why is it credit or other way secured credit?

[@Im1234and5]

I write the card numbers down.But I don't have the card.How can I reload the money on the same card ?

[@user-tb6ok3zy6k]

debit doesn’t go through credit does it’s the oppsite

[@0CaptainZer0]

Funny how I'm being taught the EXACT opposite in my financial math class currently.

[@Croucher72649]

Why

[@NotAMonkeySike]

maybe do some research to find out which one is actually true

[@kingcrazy1615]

With certain banks you can choose an overdraft limit

[@PGCTalha]

depends on the bank and country

[@bconbit1343]

I like that the likes are 123

[@mxm-ok]

Misinformation like I’ve never seen it before I love it

[@HaloHighlightz]

Misinformation? How so?

[@raemmelparker9012]

​@@HaloHighlightzin most banks debit cards have a option where it will give you a your own custom if you are about to overdraft mine is 200$

[@Nukedisaster1986]

@@HaloHighlightzmost banks have a overdraft limit. For example chase will not charge you a fee unless you go over 50$. Idk if overdraft limit is the right word but I can't think of another one

[@lordsluggg]

This is completely true what are you on, you probably don’t have overdraft protection

[@phageofficial404]

It's different for different countries and banks so his information is neither correct nor false.

[@JakeDotMp3]

Credit cards get declined...? But... what about negative bal...BRO YOU SAID THE COMPLETE OPPOSITE!

[@rwnly6330]

Credit cards use money you don’t have debit used the money in the account

[@IM2MERS]

Credit cards have limits, and just like overdrafting, it's possible to go over those limits, but it varies on each transaction. Just like it does with a debit card

[@stepbrokanee3093]

@@rwnly6330yea but the thing he said ab debit in the video is kinda lie you can turn it off so bank doesnt cover if you dont have sufficient money

[@joemann7971]

​@@IM2MERSthe only time I went over the limit was doing a balance transfer. I think I transfered exactly the credit limit over to that card but once they added the transfer fee, it went over the limit. I can't think of other situations which would cause you to go over the limit since banks generally decline when you exceed the limit. I never got got charged an over the limit fee, but that was a long time ago. So, I can't remember. Lol

[@chewsbrothersdailydylancyy644]

Debit is your OWN MONEY THIS STUPIDGUY (not the comment above) DOSENTY KNOW WHAT DEBIT AN CRIDIT IS

[@donnyy4210]

Most debit card accounts typically have optional overdraft, dont forget to mention that.

[@undergroundnet3907]

I don't live in america

[@Moblie-Gaming-Live-No-Voice]

​@@undergroundnet3907ok?

[@mackaylachan402]

@@undergroundnet3907ok and?

[@seanspursss]

​@@undergroundnet3907not just in america

[@mostly-hollow1009]

I was going to say that too! For my bank it's optional as well.

[@mr.niceguy1706]

Overdraft is optional so if you aren't using it, the card will just decline if you don't have enough money.

[@Dizzman_D]

Exactly

[@Difluoroacetamide]

It depends on the card type. Visa Electron will NOT overdraft and Visa Debit will.

[@DozIT]

Overdraft is optional, if you don’t have it your bank will still process the transaction and charge you a $45 NSF (source: Canadian Banks)

[@OptimaGamingTeam]

@@DozIT For the bank I use the card just declines when NSF and there is no fee, it just declines in general

[@DozIT]

@@OptimaGamingTeam I should have clarified - for PAD (ie bill payment) or online transactions. In a store it would just decline with no NSF. A credit card however may still allow you to use it and charge an over limit fee unless you tell your bank to disable that -,-

[@vexpex7202]

Me: buys a lambo when i have 2 cents in my account

[@TropicalityCat]

With the $30 dollar overdraft fee, it only costs you $30.02!!!

[@expertgaming]

​@@TropicalityCatyeah you still have to cover the cost but theres a fee on top of that, theres also a limit so after a certain amount it will decline

[@wirelessriver7]

🤨 it's literally the opposite. Most debit cards decline and credit just run to ur credit limit. Also they have NEVER waved the fee for anyone I know

[@minkaz]

True, even then you have the mental capacity to not be a idiot and check your balance

[@HaiRune]

I’ve had my fee waived cause my overdraft was then just transferring the money I needed from my savings

[@angrialex3409]

@@anthonymercado8126no it won't. I've done this b4

[@mmk6917]

fr thats what im saying maybe its just in America

[@_andre007]

Wells Fargo does on certain limitations

[@sharky710_]

I was so confused on why the debit card was the one going through when it should’ve been the credit card going through but the overdraft cleared it up

[@Kangiru_Noah]

Mine is the opposite if i pay the amount that is more than what my account hold, its gonna refuse it

[@lemonmeowy]

Same

[@kennymayanja714]

Same

[@c2k24]

In my country it's the opposite. Debit cards are used to pay with the money from your account and by credit cards you just borrow money from the bank and then pay it off.

[@katakonirova836]

​@x I don't know where they're from but It's same in my country and I'm from Czech republic

[@IcyySamm]

@@katakonirova836 I think this video is wrong. I am from Canada and it is the same here. Debit cards take the money directly from your checking account, while credit cards borrow the money from the bank which you pay at the end of the month.

[@thousthadnotasked]

@@katakonirova836 I’m from the US and it same with me lol

[@AnanasIsDrawing]

Me too

[@AnanasIsDrawing]

​@@IcyySammi think its wrong too

[@samuelbilodeau53]

Hum isn't that the opposite wtf

[@rajesh220771]

Yea it's the complete opposite

[@emilb.222]

I believe most debit cards in the US are a fusion element that work like a credit card to the bank. In my country, which is located in Europe, banks typically offer three categories: exclusively credit, with an applied limit, where the card holder pays back the bank with their checking account; 'hybrid?' cards where you own the money deposited on the card, but the bank can cover up to say €100 so you are not leaving empty handed from the store; and exclusively debit cards that WILL get declined if the funds do not cover the amount.

[@ykgcolis653]

You can actually make the choice when opening a checking account so it won’t go through if you buy somthing that cost more that what you have in the bank

[@yuriinosach5582]

In Ukraine, credit cards can usually have personal funds alongside credit limit. If you personal funds are over, the credit limit is used. Then you transfer money to the card and credit is paid off. You may even set credit limit to 0 (banks do this as well if a person has bad credit score) and use a card like it's a debit card. It's often more profitable than debit card because credit cards usually have zero fees for transfers between cards.

[@whale9114]

Time to buy a ps5 and only have to pay 30 dollars back

[@miimi_12]

no, you have to pay for the ps5 and the overdraft fee, +interest

[@YassJuni]

Fun fact if you use an online back like current or upgrade you wont get charged, lots of the time they wont let it go negative, also some have overdraft protection

[@williameklund4625]

Is this only in America because ive had debit cards decline many times

[@staryknight2452]

No I have a debit card that has gotten declined

[@olivenhelm8468]

It‘s pretty common in the US and UK only as far as I know

[@86-Trueno]

No this guy is just talking nonsense in this video misinforming people don't listen to him

[@RifleCard]

Some banks will let this happen but some banks will also not let the transaction go through

[@elsecaller9619]

Most banks you can tell them not to do this when you get the debit card

[@harrisonshmokes7697]

I have overdraft turned off so I won’t be able to make that purchase and then owe the $35 for my babk

[@AsherMiddleton-kq9tb]

Bro really got them mixed up

[@enforcementgaming6307]

That’s why I use my credit card. You always have to keep track of how much you have left.

[@nawabkhan2005]

This doesn't happen in the uk. Over here debit cards decline if you arent signed up for overdraft

[@TheRandmGamr]

MISINFORMATION FOR SURE

[@Sphyxx]

My card gets declined if I don't have money and it ain't a credit card

[@Nevergonnagiveyouup709]

Yeah I think the guy got mixed up with debit and credit

[@Sphyxx]

?

[@Nevergonnagiveyouup709]

@@Sphyxxhe meant a debit card declines if it doesnt have money on it and a credit card gets you into debt

[@TheRandmGamr]

not true, debit declines if you dont put overdraft

[@frog_0051]

bro was yelling in lowercase 💀

[@lostintranslation57]

I like capital one because instead of allowing overdraft it just doesn’t let the transaction go through. I’m not paying an overdraft fee cause my money was in my savings instead of my checking

[@Regina.6692]

I'm going to be getting a debit card at some point this year so this is helpful

[@xmsre]

Don’t listen it’s wrong.

[@Regina.6692]

@@xmsre oh......damn it

[@TheKNIGHTELFMOHAWK]

I don’t have seen debit cards get declined too when I don’t have enough money to cover the purchase

[@IL_Bgentyl]

Tip you can put on overdraft protection to stop this from ever happening.

[@blankprivatecompany9296]

My debit card doesn’t do that if u don’t have enough it won’t go through

[@AtomStart]

me “politely asking” the bank to waive $4,109,175,113:

[@Thekidwil]

I was told when I got my debit card a few weeks ago that if I don’t have enough money in my account, it takes it from my savings and then when my savings goes to zero I get negative

[@kingofallcheese1340]

Imagine trying to buy a Lamborghini and your card declined but it still goes trough, and your bank calls “hey you went over board, that’ll be $30”

[@andrewlew89]

His voice is so soothing.

[@rahulrajesh3086]

I have always seen most debit cards decline, credit cards always go through

[@jacobcastro9705]

My bank only dose the overdraft for things that are monthly if I try to buy at a store it declines instead

[@penguinpro1145]

In most countries you will need to have given your bank written permission to allow them to give you overdrafts

[@Mr.game_and_dogs]

I’m subscribing for sure

[@bruhmomentos6548]

This works with some but no all cards. Not all accounts allow the overdrafting fee, and some places will allow one overdraft fee a month for free even. You gotta specify dude, this isnetting people up to be embarrassed.

[@unlimitedpower4101]

You can definitely go over the limit with a credit card...

[@mauriziogrosso3152]

Bro chose opposite day to teach us a "lesson"💀

[@edgargonzaga5849]

He’s half right. You also got the option for your debit cars to decline depending on how much you got

[@DoThe1mpossible]

I was over drafted on a payment at noon, realized it by chance on my app, payed my overdraft at 3:04 and they told me "after 3 is thr next business day. Sorry 😊"

[@Zythria]

This is a fulse statement. As someone who had their debt card declined, the bank can but does not always give over draft. And I use to pay to have over draft. Be sure to know what your bank does. As bouncing your debt will lead to double the cost and no sale.

[@CRSStories]

Most banks don’t charge a fee unless the overdraft is over a certain amount Chase for example is 50$

[@Brownie.-]

I’m glad my bank doesn’t charge me for over charge fee as long as I don’t go past my $500 limit of overdraft protection.

[@rockstxrgf]

Credit cards crying as their use has been forgotten

[@leoleonor679]

The overdraft fee should be like 10 dollar overwhat you owe man

[@IvanMartinez-wf4sw]

In my experience it’s been the opposite. Decor gets declined and my credit lets me go over my limit

[@a.gabrielarchibald5291]

This depends on where you live and your bank, at my bank is the other way around

[@Tocamiyah740]

Thank you so much because I just got my first debit card today so thank you

[@Imnottherubhioh]

I will use this tip for my Debit Card.

[@stephenyoungstrom3396]

My bank doesn't do that; it only lets you charge what is in your account.

[@senderk4712]

me buying something that costs more than what the bank has so the bank goes bankrupt and I don’t have to pay cuz they are in shambles

[@pompommania]

My debit card got me overdraft, because I thought it'd get declined. I was wrong.

There usually is no fee but a high interest rate if your debit card allows going into debt anyways.

[@Dessa_williams]

He got them mixed up

[@Forrealaballer]

that’s how it look like my parents are rich

[@MetalVII]

You can turn off your overdraft. That’s my advice.

[@generalgrievous4942]

You can also turn it off so it will just decline the card

[@InterwebUser-ps7ju]

You can actually make it to where the card will not go through. You need to let your bank know that you do not want that service of them, letting purchases go through without the money being in the bank and they can make it to where the card is declined if there are insufficient funds

[@T_33gamer]

I thought it was credit card that does that and debit card is the one that declines

[@ethanarcher8239]

I have it turned off for my bank account, only thing that puts me in overdraft is travel fees and I never get any extra charge for it

[@kingmustache2647]

Well most banks when you set an account up with them you can opt out of something called overdraft protection that will decline any charges that are made that would put your account into the negative

[@BeanHi-ek1ts]

With ur bank u ask them to make the card decline and not go through so u don’t get an overdraft fee

[@garygretarsson]

Never use a debit card for anything other than withdrawing and depositing at an atm. Ever. Credit cards only.

[@crazygirlfun1]

I remember when I accidentally used the wrong card that didn't have enough money on it and purchased a candy bar for like $0.90 and got hit with a $35 fee the bank refused to waive the fee. I left that bank. Now I reverse fees all day for people 😂

[@faaresq-moneytips]

LOLLL

[@mr.goodman3991]

Credit is credit. If you below your reputation, it will go down. But if you try to go below your oxygen, it won’t go down, it will just stop.

[@fermitupoupon1754]

I have never seen a debit card clear a transaction that the account it was tied to couldn't pay. Also overdraft fees like that are illegal here. Worst case scenario they can charge you something like 9% interest per year on the overdraft, but even that is an insane number. Most banks do not care about overdraft at all so long as you settle it within a month of accruing the overdraft.

[@user-mk3hp2eg3v]

Normally they don’t charge you a fee for anything under a specified amount

[@Mr.vanderlinde11]

I knew this since I was 5 [my father taught me]

[@rphltl]

Not always true. Mine would get declined. Also, maybe if you only have $2 left on your account you should be extra cautious what you buy, and not just let yourself find out once you already got yourself an overdraft fee?

[@timrutten5990]

Funny how it clearly said "not enough money" on the pay thinghy then

[@DozIT]

I have had a credit card approve at POS, only to be charged an “over limit fee” after getting upset with the bank (as I would have used a different card) they said it was a new opt-out feature.

[@MXALOVE]

Better to have a bank that covers overdraft with no fees, on second thought better to not overdraft at all- what are you *DOING!?!*

[@aonnnayy_]

Bro debit card is your own money and credit card is banks money bro messed up💀💀

[@NEEDKDKDN338]

I over drafted 1800 dollars on my card and never paid 😂

[@lthughes]

My debit card has literally been declined multiple times 😂

[@BigBlackGuy]

Bro i went to wendys one day and had a dollar and said fuxk it idc if i get a $30 overdraft and it kept declining me so i did a balance inquiry and the fee charged my card -$3.00 so i than i got to pay it back and never git my Wendy's

[@lobsterstrange]

Funny until you realize that you also have two dollars in your bank account

[@river1403]

That’s incorrect in Canada. The debit card can and will get declined if sufficient funds aren’t available in the account.

[@aiden_k]

Who doesn’t know you can overdraft your debit? If you don’t you needa not be buying things

[@kurtdeleon2941]

Yeah, in the Philippines debit cards get declined even if you lack .50 php, maybe less..

[@CooperBeingReal]

You got it wrong that’s the complete opposite

[@iTechyz]

Not necessarily, you could also ask your bank to decline your debit card if you don’t have enough funds on the card to cover the full price.

[@rafaelguzman3902]

Well not in my case. My cash app credit card covers up to $25 in overdrafts. They got me covered. 😊

[@Grouptherappy]

I wished debit gift cards worked that way too

[@jwill5892]

I've had a couple overdrafts in my account before. But most of the time I am declined when I have no money in my account.

[@timmydru8727]

Ngl I actually learned somthing I didn’t know that

[@nada4328]

Debit cards only go through depending on the bank and most times you can opt out and the bank will decline the transaction instead. Credit cards only decline if you hit your limit which is a bad idea.

[@alfonsogalapero]

The credit card will only get declined if you spend over the limit… highly doubt anyone would be able to spend that much in the first place

[@azlan3332]

My Debit card doesn't go over. They gave the option in very fine print to disable it. So if you call your bank and ask them to make it so you can't go over they will disable that ability.

[@donidemaru5547]

Idk what's going on in the US but where I live it's the total opposite

[@master6435]

That is only if the person doesn't setup over draft setup

[@CAPYBARA12415]

OK I’m here to stop this drama so for some banks, your bank pays for the rest if you don’t have enough for some other banks, they don’t pay

[@nifLefty]

AND that will never be the case unless you go out your way to set an overdraft. If you dont have overdrafts set up it will never happen