Bank overdrafts are flexible for different clients depending on account activities. Active accounts will tend to attract higher bank overdrafts as compared to dormant or less-active ones.
Tell him about your overdrafts.
taxes
that's how they make money
You can still be overdrawn if you take out more than you put in
Bank overdrafts occur when one makes a purchase by check, credit, or other vehicle to access money in one's bank account, but there are not enough funds in the account to pay for the purchase or charge. If the bank chooses to pay the charge anyhow, an overdraft occurs, which typically results in a negative balance, and the bank charging a fee. Careful attention to one's balance and spending habits is the most prudent form of avoidance of overdrafts, however, sometimes banks will give the user an option to not pay overdrafts, meaning that the check or charge will be returned unpaid.
No. You can not tell by looking at a check if they have had overdrafts.
To get a bank loan, the bank makes sure that you have a good credit rating and have good collateral before you get to touch their money. With an overdraft, not only are there no evidence of good character, as above, but the overdraft itself makes a person unreliable in the bank's eyes. Then, of course, they like to charge a high rate for overdrafts to train you into not doing any more overdrafts.
Yes, that should not be a problem.
I have overdraft protection, so my bank covers overdrafts instead of bouncing checks. This is useful because I have several auto-pay accounts, and I don't keep track of them well. However, overdrafts are charged to me at a rate of $30 a pop- if I had 120 overdrafts, that would be $3600. Just how disorganized is your checkbook? H-m-m-m?
What bank offers the most flexible access to your money with the fewest restrictions?
The PNC Bank does offer savings accounts for children. They are happy to promote them because children are less likely to build up overdrafts for instance. The accounts are provided free of charges.
an ear is on the side of your head