What is a bank overdraft?

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24th Nov 2009 by Gary

A bank overdraft is when you spend more money than you have in your checking account and the bank covers you for a fee. Many people aren't aware that they have overdraft protection, and so are caught off guard when they discover they triggered a number of fees which they have trouble paying for. New laws require banks to let customers know they're covered and what it will cost for that overdraft protection if they overdraw the account.

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24th Nov 2009 In Business 1 Answers | 1070 Views
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