In simple terms, overdraft protection helps you should you write a check and not have the funds in your account to cover that check. That is the simple explanation, but there is often more to it than that. This article looks at some of the common issues associated with overdraft protection.
Normally, when you write a check that bounces, the check is returned unpaid to the company or person who deposited it. Fees are usually charged by the party who returned the check and you have to pay those fees. In addition to that fee your bank may also assess a service charge to you for having written a bad check. These fees can add up quickly, and even a small check written for a few dollars can suddenly cost you much more by the time you pay all of these fees and service charges.
Sometimes, if the overdrawn amount is small, and you have been with your bank for a long time, they may go ahead and pay your check, but they will still assess a fee for payment. These fees can run from a few dollars to up to thirty dollars or more, per check. This is where overdraft protection comes in handy.
Overdraft protection will it is used to cover a check for you is not free in most...
To view and download this full PLR article, you must be logged in. Registration is completely free. Once you create your account, you will be able to browse, search & downlod from our PLR articles database of over "1,57,897+" on 1,000's of niches and 200+ categories without paying a penny. Click here to signup...
