Overdrew Account...Please help

[charger2005]

What is the name of your state? Pa

I have a savings account with my credit union. I deposited money into that account a few days ago, and I went to that bank and withdrew money yesterday. I pulled out mostly all of the money in there. Now, reflecting in my balance is a pledge amount that I have a secured loan with, and it shows on my atm balance, but I dont have access to it...so I find out. What happend was, I went to the bank at 3pm and withdrew $500 out of my account for bills. Now, I deposited this $500 a day earlier trying to save it, but I needed it, so I pulled it back out again. Now, I really dont balance my savings book, which I know I should, but I havent in the past. So, I really couldnt even tell you how much money I had in my account unless I go online and look. That same day, at about 7pm at night, I went to the atm, and I saw my available balance up over 700 bucks, so I pulled another 500 out again. What I didnt know is that the bank updates their records with the atm at 3:30 pm, and since I withdrew the money about 4pm, the atm's wouldnt have seen that untill the next day. So, basically, my savings account balance is $-500. My question is, can the bank press legal charges against me, being that the money was withdrawn and the atm still let me take it out, or will they just report me to check systems and make payment arrangements. I've never had this happen before so any info would be appreciated.

[thepenster060]

If you stated you could look at your account online,then why didn't you. Sorry it sounds like to me like you knew what you were doing. Yes you are in trouble, yes you will need to pay it back.

[charger2005]

There is a lag time from when you make withdrawls and when the atm updates. There was a balance above what I thought I had. I'm asking if I could be in legal trouble, or will they sue me civally to pay it back? My account is -500.

[Debt Guy]

Yes. They can sue.

You took money that was not yours. Case closed.

[charger2005]

Civally or criminally?

[Debt Guy]

The bank can file a civil lawsuit. If the bank wins, they will be awarded a judgment. Then they can take away any non-exempt asset, can garnish your wages, seize your bank account, etc. The judgment will be a public record and will be on your credit report and will hinder your ability to borrow money to buy a car or a home.

If the bank thinks a crime has been committed, they can file a complaint with the district attorney. If the DA thinks s/he can win a conviction, they can file criminal charges. If you are convicted, you could be sentenced to probation and/or jail time. You would most likely be ordered to make restitution and perhaps pay courts costs and a fine.