Did I mess up in making a Savings account

Submitted by SKSword t3_10paqlj in personalfinance

To be clear, I know that a Savings account itself is not bad. numbers below are not exact, but close enough for example sake.

Pre-opening Savings Account, I had 15.7k in my checking account.

After I opened it, I had:
Savings: 14.7k
Checking: 1.0k

What I idiotically overlooked was that I have shit I need to pay for like Credit Cards and rent. this morning I checked my account and it showed the following:
Savings: 14.7k
Checking: -50 (pending)
since 30 mins ago, I've instantly transferred about 2k into my checking for the moment until my paycheck comes in tomorrow from work.

In short, how fucked am I that my checking account hit -50?

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zach2288 t1_j6j9yza wrote

You might get charged an overdraft fee but since you corrected it you should be fine moving forward

2

sleepyguy22 t1_j6ja0jy wrote

Not too fucked, especially since you have instant transfers. Usually, fees and totals and stuff get assessed at the end of the business day. If you have a positive balance by the end of the day, you should be golden.

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ModelT1911 t1_j6jbhqq wrote

Depends on the bank but you'll most likely be charged overdraft. Could be $20, could be $50. Always worth a shot to go to the branch and explain the situation, especially since it was immediately rectified.

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GeorgeRetire t1_j6jpvwb wrote

Just transfer money from your savings to your checking. You might have an overdraft fee you will need to pay.

Make sure you keep enough in your checking to cover your day to day needs.

1