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What You Need to Know about Overdrafts and Overdraft Fees An overdraft occurs when you do not have enough money in your checking account to cover a transaction, but we pay it anyway. We can cover
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Overdraft privilege is a service offered by financial institutions that allows customers to overdraw their accounts up to a certain limit.
Customers who opt in to overdraft privilege at their financial institution are required to file for it.
To fill out overdraft privilege, customers need to contact their financial institution and formally opt in to the service.
The purpose of overdraft privilege is to provide customers with a safety net in case they briefly overdraw their accounts.
Customers must report their intention to opt in to overdraft privilege and provide any necessary personal information.
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