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Some banks and credit card companies do this routinely as a "courtesy" to their customers so they can avoid the embarrassment of being refused a purchase for lack of credit.

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17y ago

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Is bank allowed to transfer funds from one account to pay overdraft on another?

Banks can transfer funds from one account to another with your permission. Many banks have this option available to you when you open your account/s. Check with your financial institution.


What does ODI mean on bank statement?

ODI on a bank statement typically stands for "Overdraft Indicator." It signifies that an account is currently in an overdraft position, meaning the account balance has fallen below zero and the bank has allowed transactions that exceed the account's available funds. This can result in fees and interest charges, depending on the bank's policies. It's important for account holders to be aware of their overdraft status to manage their finances effectively.


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Short answer, No. After being declaired bankrupt you won't be allowed an overdraft or other form of borrowing for seven years.


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The homophone that means give permission and orally is "allowed" and "aloud."


Are parents allowed to take your money without your permission?

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A denied permission always takes procedence over an allowed permission?

True


A denied permission always takes precedence over an allowed permission?

True


How do I access an external drive with access denied you do not have permission to change this file or access denied you do not have access to save to this drive?

You need to check security settings for the drive. If your account is not on the list of allowed users, add your account to the list.


Overdraw your bank account?

Banks all over the world offer a service known as "overdraft" where you are allowed to overdraw your account. An overdraft is the amount that a customer of a bank has drawn in excess of the balance on his or her current account. There is usually an agreed limit up to which the customer is allowed to write checks. This was previously referred to as going into the red, because debit balances used to be shown in red ink. However with modern computerized accounting systems it may now be indicated by a symbol at the side of the balance, such as the letters Dr as distinct from Cr for a credit amount. Interest is charged on the outstanding balance from day-to-day which fluctuates with any credit items posted to the account. Such items can be salary in the case of a private individual, or trading income in the case of a firm. The account holder benefits from having a lower debt for interest charges than would be the case with a loan that is credited only with set repayment credits. An overdraft limit is set for a specific time period, usually one year, and can be renewed for an extended period after expiration.


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Banks often have the right to deduct service charges from your account, even if it results in a negative balance. This is typically outlined in the terms and conditions you agreed to when you opened the account. It is important to keep track of your small forgotten accounts to avoid such charges. You should contact the bank to discuss the negative balance and see if any resolution can be reached.


What is the difference between 'not allowed to come' and 'allowed not to come'?

not allowed to come means you were dis-included allowed to not come means you were given permission to not attend