Overdraft Prevention Measures with Westpac Bank Account and Debit Card using PayPal

AlienC on 03/12/2017 - 22:57

So I have a Westpac concession account and a debit card and use PayPal for online purchases.

Been using debit card mostly linked with PayPal but was wondering if a debit card has any overdraft prevention measures I.e if you try to buy something that puts you into negative balance it won't let you.

I have already experimented with my Westpac choice concession bank account and it does let me go into overdraft have done so by 50 cents but was now wondering if my MasterCard debit card will do the same?

If I can't get any clear 100% answers I guess I could try it myself but basically have always been interested in and wanted a safety net bank account or online transaction method / account that doesn't allow me to overspend my balance or go into overdraft.

If anybody knows of any settings I could do or change in my Westpac online banking maybe that would also be great or tell me your experiences with good safety precaution measures with preventing overdraft on your accounts..

Think of it like finding the Kogan of bank accounts for overdraft protection like with how they have good data usage protection where they will just automatically stop your data usage and not charge you any more once you have reached your maximum data allowance and have to purchase more data packages or recharge to continue your data usage.l

I really like these extra mile precautions and safety steps taken in all kinds of services and am trying to determine now which banks or accounts or cards that may have this feature.

For example a prepaid eftpos card should essentially have this feature but constantly buying those online cards just for shopping can be a pain so best solution is a more permanent less temporary account or debit card etc

Cheers thanks Ozbargain you guys are always a great help and valuable natural first hand personal resource

Peace

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Comments

  • PJC on 03/12/2017 - 23:05
    +5

    If money is that tight stop purchasing non-essentials.

    • AlienC on 03/12/2017 - 23:09
      +2

      Yeah accidentally couldn't resist one more of those sub $1 deals.. I should stop.

      • PJC on 03/12/2017 - 23:12
        +3

        I hope it was a bat-shaped fidget spinner.

  • kerfuffle on 03/12/2017 - 23:52
    +4

    I don't know about your account, but overdrawing can cost you $15 in fees plus interest (also with Westpac). Learnt the hard way when I forgot PayPal took money from my bank account first (have since changed it).

  • Mozz13 on 04/12/2017 - 00:07
    +2

    So, I am not banking with Westpac but I think my experience might help. I think by default, overdraft is applied to all or at least that was what happened to mine and I'm sure that I didn't ask the bank to have it on. Just like you, bought something through paypal and instead using the CC, I used my debit for more than what I had in my account. Called the bank only asked to remove the overdraft facility but forgot as to why it was on at the first place. Banks make their money through fees as well so don't rely on them too much. Call them to remove the facility if you don't need it and save yourself some fees and headache.

  • HighAndDry on 04/12/2017 - 01:31
    +1

    Apparently NAB have zero overdraft fees. (Only giving this option because I don't think you can remove the overdraft facility from Westpac Choice accounts).

    • trustnoone on 04/12/2017 - 02:18

      I'll be honest, I haven't checked recently. But back when I was living fortnight to fortnight they definitely did have no overdraft fees so can confirm (but it does have a high interest on the overdraft amount but usually if you pay it back fast it doesn't amount to much). I will say though that after over drafting (and paying back) for about 6 to 12 months, it stopped working for me randomly 1 month, and I coincidently got a letter from NAB saying I can get a free, pre-approved credit card (seemed sus to me). But a couple months or so later it was back to working again.

  • c64 on 04/12/2017 - 10:39
    +1

    i am not a westpac customer, but my experience with visa/mastercard debit cards is that credit purchases are declined if there is insufficient money in your account

    paypal funding via visa debit card for ingdirect/citibank/macquarie etc = declined purchase if there is insufficient money

  • mskeggs on 04/12/2017 - 10:44

    My Westpac "Choice" bank account lets me go into overdraft. It charges a $9 fee, and I assume some interest, although I can't remember seeing that charge. I have been whacked with it a couple of times when direct debits were presented after some careless transactions.

  • blitz on 04/12/2017 - 12:21
    +1

    If anybody knows of any settings I could do or change in my Westpac online banking

    What did Westpac advise you when you asked them?

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