An overdraft is a banking facility that allows customers to withdraw or make payments beyond their available balance in their current account up to a certain limit. It serves as a safety net, preventing declined transactions and potential penalties for insufficient funds. Applying for an overdraft typically involves meeting specific eligibility criteria set by the…
Overdraft fees occur when a bank account does not have enough funds to cover a transaction, such as a debit card purchase or check. When this happens, the bank may charge an overdraft fee, which can range from $25 to $35 or more. Overdraft fees can add up quickly, so it is important to avoid…
How to apply for overdraft refers to the process of requesting an overdraft facility, which allows individuals to withdraw more money from their bank account than they have on deposit. Overdrafts can be useful in case of emergencies or unexpected expenses. They can also be beneficial for individuals who need to make large purchases or…
