What is Overdraft Protection?

If you have an arrangement with your bank in which you are not penalized with extra charges if your account goes into negative numbers, you have overdraft protection.

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[youngtripp]

Actually, that’s not what an overdraft is an overdraft is where the bank pays your transaction. If you don’t have any money in any accounts, that’s just a transfer from the savings account or any other accounts that you have is what you’re talking about overdraft is a person who doesn’t have any money in their account or they don’t have enough money for the transaction and the bank covers a transaction and you have to pay the bank back for any additional money that they let you borrow That’s what an overdraft is like if you had no money in the bank and you go and swipe your card that’s an overdraft if you have $500 in the bank and you had something that was $600 that’s an overdraft because you’re overdraft to $100 if you have something that you have to pay that is $2000 and you only have 1000 that is an overdraft Because when you get paid, you have to pay it back to the bank the additional thousand dollars that you did not have