Other transactions, however, may be automatically covered by your bank. For debit card transactions, you must opt for overdraft protection. When you have “overdraft coverage,” this occurs. When you incur a charge on your account, three possible consequences might result in a negative balance.įirst, your bank may cover the expense and charge you an overdraft fee. Check transactions are subject to different restrictions than ATM and one-time debit card transactions. Notably, various transactions may be treated differently by banks. This may be a check you wrote, a debit card charge you made, an automated payment that went through, or an ATM withdrawal attempt. This can be because of a variety of factors. You have an overdraft when you make a transaction on your account that reduces the amount below zero. The overdraft agreement you have with your bank is the first and most crucial item to grasp in this circumstance.
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