Rates Current as of Thursday February 09, 2012

Overdraft Protection

A service that allows the customer to write checks for an amount over and above the amount in their checking account. The protection is an agreement with a bank or other financial institution to pay insufficient items in a checking account. Funds are generally transferred from their line of credit or other designated account to their checking account as needed. It may also simply be an agreement that allow a bank to honor checks when a customer’s account is overdrawn, with the bank retaining the right to return, bounce, items at its discretion.

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Overdraft Protection

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