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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.

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11y ago

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Related Questions

What do initials TOD stand for?

Time of day


What does TOD stand for on vehicle titles?

Transfer On Death


What is the reason for overdraft charges from a bank?

Bank overdraft charges are the result of someone spending more money than they have in their bank account. The bank then charges interest on the overdrawn amount.


What is journal entry for bank charges?

bank charges a/c debit to cash a/c credit


What journal entry is needed to debit for bank service charges?

[Debit] Bank service charges [Credit] Bank account


What is the journal entry for bank services charges?

[Debit] Bank service charges xxxx [Credit] cash / bank xxxx


What does Bank charges mean?

what does banking charges mean


Calculation of lc confirmation charges?

LC confrmation charges is the charges paid to confirmation bank and born by the applicant, normally a confirmaton bank is bank which give the payment on the presentation of documents by applicant,s bank


What does TOD stand for in estates?

TOD stands for 'transfer on death'. TOD is a legal agreement with an entity such as a bank whereby upon the death of the owner of an account ownership bypasses probate and passes directly to beneficiaries. The transfer is made quickly but assets passed through this type of arrangement are subject to estate taxes, if applicable. Transfer on death (TOD) registration allows you to pass the securities you own directly to another person or entity upon your death bypassing probate.


You get paid by check if you get bank charges who pays?

The person who receives the cheque payment (You) pays the bank charges.


What is bank services charges?

it is the value of what you are offered in the bank.


Can you get the bank to remove charges?

It depends on what charges you are talking about here. If the bank has charged you by mistake then by contacting the bank and raising a request you can get the bank revert/remove those charges. Ex: If the bank charges you $25 for not maintaining the minimum balance even though you hold a 0 balance checking account, you can raise a written request and the bank would deposit the $25 back to your account.