It's not the order most likely to produce an overdraft, it's the order that produces the most overdrafts.
$500 - $1 - $2 - $3 - $4 - $5 - $1000 sounds like one overdraft but if it's processed in the reverse order it's 6 overdrafts.
I did this in that order in college, probably 9 years ago. Obviously the mistake was my fault, but imagine my surprise when I went online to fix it and pay the $35 fee and found that it was over $200. When I called SunTrust they told me that their policy was to process payments from largest to smallest.
This was my second overdraft, the first time my card "worked" so I assumed that there was more money in my account than I remembered (wasn't aware of overdrafts at the time).
$500 - $1 - $2 - $3 - $4 - $5 - $1000 sounds like one overdraft but if it's processed in the reverse order it's 6 overdrafts.
I did this in that order in college, probably 9 years ago. Obviously the mistake was my fault, but imagine my surprise when I went online to fix it and pay the $35 fee and found that it was over $200. When I called SunTrust they told me that their policy was to process payments from largest to smallest.
This was my second overdraft, the first time my card "worked" so I assumed that there was more money in my account than I remembered (wasn't aware of overdrafts at the time).