Overdraft fees are incurred when you spend more money than what you have in your bank account. This occurs when you attempt to make a purchase or withdraw funds that exceed your available balance, prompting your bank to cover the difference, often for a fee.
Overdraft fees are incurred when you...
spend more money than what you have in your bank account.
transfer money from your account to another account at a different bank.
use an ATM that is not in your bank’s network.
withdraw or transfer money from your savings account more than six times per month.
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