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Why do bank charges fine on insufficient balance when they know there is not enough money?
Wiki User
∙ 14y ago
Because, as per the account opening agreement, you are bound to maintain a certain amount of money in your account, failing which the bank is legally entitled to charge the fine.
Wiki User
∙ 14y ago
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What is NSF charges?
non-sufficient funds ( means you do not have enough money in your account to cover your transacations)
What is a Minimum balance fee?
A Minimum Balance Fee is a payment made to your bank for not having enough money in your savings account, checkings account, ETC.
Is a credit balance an unpaid balance owed?
a "credit balance" is money that you have.
What does tod bank charges stand for?
TOD is an acronym that many banks use that means Temporary Overdraft. This happens when an account does not have enough money. The account will then be overdrawn.
Can i withdraw MOD Balance money?
mod balance available
Is it legal for charter one bank to charge insufficient funds even if your balance is not negative in Illinois?
If you write checks for more money then you have in your account, yes.
What is it called not having enough money in the bank?
Insufficient Funds. Most banks will show INS on your statement and most will charge a fee for this.
What is NSF charges?
non-sufficient funds ( means you do not have enough money in your account to cover your transacations)
How much money does the federal government collect in taxes?
Obviously not enough to balance the budget.
What is a minimum balance?
A Minimum Balance Fee is a payment made to your bank for not having enough money in your savings account, checkings account, ETC.
How do you buy a used car if you have a balance on trade in?
You will have to borrow enough money to pay off the balance on the car you now have plus the price of the car you are buying.
What is a Minimum balance fee?
A Minimum Balance Fee is a payment made to your bank for not having enough money in your savings account, checkings account, ETC.
What is the difference between a balance ledger and cash available for withdrawal?
The best answer I have found for this is that the ledger balance shows how much money of yours is actually within your account, even if some of it is about to be sent for payments of checks and charges and the like. The available balance is the rest, the money in your account not about to be used to pay any charges and is immediately available for withdrawal. Source: http://www.bangkokbank.com/Bangkok+Bank/Personal+Banking/Internet+Banking/FAQ/Virtual+Bank+Accounts.htm#2
What is a sentence using the word insufficent?
When you do not have enough money in your bank account to cover a check that you have written, your bank sends your check back to the depositor marked insufficient funds.
What does a minus balance on acredit card mean?
If your credit (not debit) card has a negative balance on your statement, then there is an overpayment (you paid more than you owe). So now they owe you money. This is usually applied towards future charges.
What is the difference between paying off and discharging a debt?
I wonder if you mean a "charge off" rather than discharge? If you pay a debt off, you send them enough money to cover the cost of the purchase plus any interest charges, and they send you a statement with a zero balance. If you have a debt charged off, that means the load company has given up hope of ever getting the money out of you, they zero out the balance on their computers, and notify the credit bureaus that you are a deadbeat.
What is meant by being financially disadvantaged?
To have an insufficient source of money
