Answers about Overdraft/NSF Fees and Protection
Can the bank charge an overdraft fee while there is a deposit pending?
Yes. Many transactions are processed overnight. These transactions may not be reflected in an available balance.
This is why it's important to keep a current and accurate check/transaction register and balance it to your monthly statement. A bank's online, telephone, or ATM balances are for information purposes only—they do not replace your check/transaction register.
On checking accounts, banks generally post deposits before withdrawals. However, the law does not require this. In addition, banks may establish a cutoff time for deposits made at a branch or through an ATM. Deposits made after that time may be treated as having been made on the following business day.
For example, a deposit made after the Friday afternoon cutoff time would be treated as if it were made on the following Monday. So any items with next-day availability would then be available the next day (Tuesday).