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Suppose your bank honors a check for which you don't have sufficient funds in your checking account This action means that you've arranged beforehand for aSuppose your bank honors a check for which yo?
Wiki User
∙ 10y ago
Many bank accounts are combined with "overdraft protection"; if you write a check for more money than is available in your account, the bank will pay the check on the assumption that you will be depositing more money in a few days anyway. There's generally a fee for this service, which can be substantial; 20-40 dollars per overdraft.
In some cases, if you have a credit card with this bank, the bank can pay the check and automatically do a "cash advance" on your credit card. With my bank, the cash advance is in increments of $100, so if I write a check for $5 more than I have in my account, it transfers $100 from my credit card to my checking account. I'm fortunate in that my bank doesn't charge a cash advance fee for each transaction.
Wiki User
∙ 10y ago
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Suppose your bank honors a check for which you don't have sufficient funds in your checking account This action means that you've arranged beforehand for a/an?
overdraft loan
Suppose your bank honors a check for which you don't have sufficient funds in tour checking account This action means that you've arranged beforehand a?
overdraft loan
What is it called if you have arranged beforehand for your bank to honor a check for which you have insufficient funds in your checking account?
This is called an overdraft loan, and is normally only granted when the account holder has other deposits (savings, certificates) in the same bank, which would be sufficient collateral for the credit extension.
Suppose your bank honors a check for which you don't have sufficient funds in your checking account This action means that youve arranged beforehand for aan?
Overdraft is the word. The bank agrees to extend credit to cover a check written for more funsd than you have in the bank. In effect, they are making a loan to you.
What happens if your bank honours a cheque for which you don't have sufficient funds in your checking account to cover?
Your bank will likely charge you a fee.
Proper procedure for checking oil level on suzuki c50?
The proper procedure for checking the oil level is to look in the oil sight glass with the bike sitting level. If you see all oil and no air bubble at the top then you have sufficient oil.
When i bought my house some company make a survey. How can i found that company now I'm try the yellow pages but i cant find it.?
Try checking with the title company that arranged the sale.
How do truckers know they wont hit a overpass?
By checking their routes beforehand for low clearance locations, and by knowing the height of their vehicle and observing markings on the bridge. If an overpass isn't marked, it means the clearance is at least the statutory 13'6" height.
Can a bank go into your checking account and take out my house payment?
If you have authorized your bank to do so by arranging a scheduled payment, then the money will be drawn out and applied towards your mortgage payment. However, if you did not authorize a payment beforehand then a bank will not take money out for the payment.
Under what circumstances are bi-weekly mortgages arranged?
Lenders target sophisticated, second-and third-time homebuyers for this product. The loan usually is tied to a checking or deposit account from which payments are debited directly
Do all grocery chains accept online grocery coupons?
Not all grocery stores accept coupons printed online. However, most of the major chain stores do, it's the smaller ones that don't always take them. Checking with the cashier beforehand is recommended.
What services does the company Telecheck offer to consumers?
TeleCheck is a data checking service that verifies or declines checks. This is done to verify if sufficient funds exist or if identity theft has occurred to protect consumers and merchants.
