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Should be treated as an liability

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12y ago

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How can you avoid overdraft fees?

To avoid overdraft fees, you should regularly monitor your account balance, set up alerts for low balances, keep a buffer amount in your account, and consider opting out of overdraft protection.


Difference between bank loan and bank overdraft?

These two terms are different.For a bank overdraft, you should have an account with the bank and it is a limit on borrowing on a bank current account. With an overdraft the amount of borrowing may vary on a daily basis.A bank loan is a fixed amount for a fixed term with regular fixed repayments. The interest on a loan tends to be lower than an overdraft.


Interest on overdraft?

Overdraft interest is usually around 17 to 21 percent. This is a huge penalty and your overdraft should be paid off as soon as possible. Most banks will not allow you to have an overdraft for long.


Why should depreciaon be treated as expense?

Depreciation should be treated as expense because the worth of the asset like machinery and building goes down as time goes by. This reduction in the amount cannot be collected by anyone and cannot be claimed. The company only has to bear this amount. Because of this depreciation is treated as an expense.


How to Recover Bank Account Overdraft Fees?

WaitOnce you notice that you have an overdraft charge, you will need to wait until you know it has been posted. It does not matter if you see the charge online or if you just notice that your balance has been reduced by the overdraft amount. You should wait until the overdraft fee has been completed. While it is still pending, you cannot do anything.Cover Your FeeAfter the overdraft charge has been permanently posted, you can deposit enough money to cover most of the overdraft fee. You should only put in enough money that covers the amount of the original overdraft. You should also only put in enough money to cover the amount of one overdraft fee. If you have more than one overdraft fee, you do not need to worry about it for now.Call Customer ServiceOnce your overdraft fee and your deposit have been permanently posted to your account, you need to call the customer service department of your bank. They will ask you to verify your identity. Do so and then explain your position.Your PositionWhen people are worried about money, they will usually talk in a hard to understand manner. They will also get angry when not everything goes their way. You must remember to stay calm, cool, and collected. If you do not know what to say, you can try explaining that you made an accidental math error and that you feel horrible about it. Explain that you understand that the first overdraft charge is very important for the bank. Next, you will need to ask for forgiveness. Tell the customer service operator that you will try to avoid any more overdraft fees and ask them to forgive the other fees.Go To the BankIf this does not work, then you should visit your local branch. This can usually work better than the customer service department. Branch employees and managers may also be more forgiving than other people may. Dress formally and plead your case once more. If you are told no, do not get angry. This will hurt you more than it will help you.


Is it necessary to use special nails with treated lumber if the nails will be inside of a wall floor plate to studs?

Any nails in the new treated material should be galvanized.


How should unrecorded bank services charges be treated on the bank reconciliation?

On a bank reconciliation. What should the amount of an unrecorded bank service charge be?


How much can a bank charge you for an overdraft?

Effectively as much as it can get away with. You would have the details from when you opened your account with fine print as to what would happen if you do go into overdraft. It should list percentages, penalties etc.


How should you dispose of desiccants?

Dispose of desiccants as non-combustible waste. When a large amount of desiccants are to be disposed of industrially, they should be treated as industrial waste.


Does provident bank offer overdraft protection?

Provident bank does offer overdraft protection. You should go to your local bank and ask for more information so that you know everything to know about it before trusting their claim.


How should a woman be treated by her husband?

A woman should be treated with respect, love and understanding. A husband should be treated in the same way.


How is asbestos treated?

Asbestos should be treated like the hazardous material it is. Take action to prevent the fibers becoming airborne. If they are likely to become airborne, use enclosures to control their spread and personal protective equipment, ventilation, and material wetting to prevent people in the enclosure from breathing the airborne fibers.