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What else can I help you with?
How do you talk to your bank manager about overdrafts?
Tell him about your overdrafts.
What are the normal terms for the repayment of a bank overdrafts in Australia?
taxes
Why do bank impose fees and charges on overdrafts?
that's how they make money
If you have direct depoist set up at your bank the bank overdrafts me?
You can still be overdrawn if you take out more than you put in
How does one avoid a bank overdraft?
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.
Why is interest rate on overdraft higher than that of loan?
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.
Can you tell by looking at a check if they have had overdrafts?
No. You can not tell by looking at a check if they have had overdrafts.
Can you explain how overdrafts work in banking?
An overdraft occurs when you spend more money than you have in your bank account. The bank covers the difference, but charges you a fee for this service. You then owe the bank the amount of the overdraft, plus the fee.
How can I cancel overdrawn from my bank account?
To cancel an overdrawn balance on your bank account, first, deposit sufficient funds to cover the negative balance. You can do this via cash deposit, bank transfer, or direct deposit from your paycheck. After your account is back in good standing, contact your bank to discuss any potential fees and to ensure your account settings prevent future overdrafts, such as setting up overdraft protection. Always monitor your account regularly to avoid future overdrafts.
Can you get a mortgage loan if you already own a home and want to sell and get another home but you have a lot of bank overdrafts but paid them?
Yes, that should not be a problem.
Is 3600.00 in overdraft fees for1 year legal?
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?
Can you overdraft if you already owe?
Yes, you can overdraft even if you already owe money in your account, depending on your bank's policies. If your account is already overdrawn, additional transactions may result in further overdrafts, leading to additional fees. However, some banks may decline transactions if your account balance is below zero. It's essential to check your bank's terms regarding overdrafts and fees.
