Why do banks charge you for 'insufficient funds' when you don’t have enough money on your account to pay it??
Answers
Answer:
Banks often charge NSF fees when a presented payment is returned due to insufficient funds. ... You can choose to opt out of certain overdraft policies that allow the bank to cover charges and add an NSF fee. You usually also have the option to link at least one backup account, such as a savings account or credit card.
Answer:
Banks often charge NSF fees when a presented payment is returned due to insufficient funds. ... You can choose to opt out of certain overdraft policies that allow the bank to cover charges and add an NSF fee. You usually also have the option to link at least one backup account, such as a savings account or credit card.
Explanation:
Non-sufficient or insufficient funds occur when someone doesn't have enough money in their account to cover a transaction or payment. In most cases, if you spend more than what you have in your account, you will be charged an NSF fee from your bank. ... The most common cause for NSF is automatic withdrawals.
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