Questions tagged [overdraft]

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21
votes
4answers
3k views

Why do banks insist on allowing transactions without sufficient funds?

Specifically, to a checking account. I have not heard of, in a long time, any bank that will simply decline a charge if there isn't sufficient money. Either by default or even at the customer's ...
10
votes
6answers
4k views

Is a debit card dangerous for an account with low balance and no overdraft protection?

I have a checking account that I keep very little money in. I use a debit card as a credit card at shops, and at the ATM. I have turned off overdraft protection on the checking account. I've heard ...
0
votes
2answers
437 views

Do overdrafts on a checking account affect credit score?

I unfortunately had an overdraft on my checking account and my bank transferred money from a reserve line. Will this affect my credit score? Or is it independent from that?