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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 account to cover a transaction, but we pay it anyway. We can cover your overdrafts
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We also offer overdraft is a service provided by banks that allows account holders to withdraw more money than is currently available in their account, up to a specified limit.
Account holders who wish to utilize the overdraft service are required to file for it.
To fill out an overdraft application, account holders typically need to provide personal information, banking information, and agree to the terms and conditions of the overdraft service.
The purpose of offering overdraft is to help account holders avoid insufficient fund fees and declined transactions in case of emergency expenses.
Information such as account holder's personal details, contact information, employment status, and banking history may need to be reported when applying for overdraft.
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