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<a href="http://www.accessmylibrary.com/coms2/summary_0286-19498423_ITM" title="Facts and information about Bounce protection costs.(Did You Know?)(overdraught protection )(Brief Article)">Bounce protection costs.(Did You Know?)(overdraught protection )(Brief Article)</a>
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Bounce protection costs.(Did You Know?)(overdraught protection )(Brief Article)
"You now can start writing checks before you get paid without the worry of returned checks with ... Overdraft Privilege!" a bank proclaims on its Web site.
That privilege, however, which is included automatically in accounts at an increasing number of U.S. banks, will cover checks written against insufficient funds up to a limit without having checks bounce. The funds must be repaid within a few weeks, and for the "privilege," customers pay a hefty $20 to $30 fee for each insufficient check. Customers may not realize that they are writing rubber checks (or using a debit card to extract money they don't have), until the bank notifies them. So fees and debt can pile up. Worse, some bank ATMs include customers' overdraft funds in their ...
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