How do you pay down the overdraft on your chequing account while still continuing to use it?

[Date_a_Snob]

[Finchie40]

I guess it comes down to your bank and what their policies are , my bank gives me a 24 hour grace period and alerts me if my account goes negative, to give me time to transfer money or deposit money so I don’t get overdraft charges at all , Why I love my bank , Other banks look forward to customers bouncing their accounts so they can make money off of overdraft charges. which is crooked shit in my opinion because we don’t watch our bank accounts every second of the day. So if your bank is charging you immediately for going negative , you are best to find another bank that doesn’t do that to you

[Shiprex]

I have this capacity to earn more than I spend so never use overdraft and haven't for about 30 years. My father was turned down for a credit card because he'd never had any debt so they had not debt record for him. I followed in his footsteps and seldom have desires outside my needs.

[douride2]

The only way to pay down your overdraft while still using it is to put more money into your account then you take out. It's the only way.

[Shiprex]

LOL Earn more than you spend.
Like ROCKET SCIENCE or something

[douride2]

@Shiprex Yep it's the only way.

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[Orion84]

I'm not sure I understand, exactly.

If your account is overdrawn, the best thing to do is not use it until it's positive again. Continuing to use it while overdrawn will only cause you to incur more fees.

Try paying with cash until you can get your account back in good standing.

[Date_a_Snob]

I agree, and that makes sense. In order to pay down debt you have to stop using it. But how do you stop using your chequing account?

[Orion84]

Like I suggested; try using cash, if at all possible, while repaying what your account is overdrawn.

I mean, if your account is negative, then you can't really use it, anyway (or shouldn't), so paying cash is really the only viable option in the meantime.

[Date_a_Snob]

But where do you get said cash? Doesn't it come from your chequing account?

[Orion84]

That's the Catch-22, unfortunately. If you don't have a means of acquiring cash without your account, you may have a problem.

If that's the case, you may have to cut back on some things, until you're solvent again, or ask for a loan from someone.

Then, once you get paid (assuming you have a job), only withdraw what you can without leaving your account negative, and try subsisting on whatever amount that is.

[DJB72]

Open a second account without an overdraft and use that one. Cut up any cards to the account in the red.

[Anonymous]

I’m not sure I understand. You’re using your account even though there’s not a sufficient amount of funds in it? Which triggers an overdraft fee. Is that what you’re saying?

[bowenw]

They can operate normally in an overdraft position. Your bank may have rules that it has to be in a positive position once a month, so check on that.

[MannMitAntworten]

I have never had an overdraft charge or fee appear on my chequing account to have to concern myself with one.

[Fireguy17]

I never have an overdraft so I would not know how to do that.

[jahaims]

They take it from you automatically. You just have to put money into your account to take it out of red

[DrPepper12]

Magic? Good vibes? Theft? Manifest happiness? Sugar Daddy? Inheritance?

[jamesgoldman]

No idea, I've never had an overdraft
I actively refused one on my main account

[RedInnocent69]

Overdrafts are rolling credit. You’re approved for 20, you’re down 10, you pay 5, you can draw another 15

[Dargil]

Transfer money from savings

[lightbulb27]

What?

[jjj101010]

Pay more in than u spend