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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?
Wiki User
∙ 13y ago
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.
Wiki User
∙ 13y 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 a draft fee is for a checking account?
A draft fee is a fee charged by a bank for processing a payment or withdrawal from a checking account. It is typically charged when a check or other form of debit is presented for payment but there are insufficient funds in the account to cover the transaction. This fee serves as a penalty for the account holder's overdraft or insufficient funds.
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.
Is it a US checking account or an US checking account?
A US checking Account
What is a checking account frequently referred to as?
A checking account is also called a transactional account or chequing account.
How can you get the bank route number and your checking account number?
Your bank routing number is on the left side of the checking account and the checking account is next to it.
What is the purpose of high interest checking?
"A high interst checking account is a type of checking account that earns interest. Usually these accounts have higher interest than a regular checking account, but not as high as a savings account."
How is a business checking account different from a personal checking account?
A business checking account is different from a personal checking account by the minimum amount of desposit. You can read more at www.business.com › Directory › Financial Services › Banking
What occurs when a depositor writes a check on an account that is insufficient to cover a check?
insufficient funds
What is the average return on a checking account?
average return on a checking account is about 0.1
Do you have to be 18 to have a checking account?
Yes it is required by law that you are 18+ to have a checking account.
