Overdraft Protection — A line of credit that banks offer to their customers to cover their overdrafts. Overdraft protection kicks in when a customer writes a check for more than the amount in their account. Also referred to as cash reserve checking. Overdraft… … Investment dictionary
overdraft protection — / əυvədrɑ:ft prəˌtekʃ(ə)n/ noun a system which protects a customer from overdrawing his account, either by switching money automatically from another account, or by offering a line of credit … Dictionary of banking and finance
Overdraft — I warn you, Sir! The discourtesy of this bank is beyond all limits. One word more and I I withdraw my overdraft! Cartoon from Punch Magazine Vol. 152, June 27, 1917 An overdraft occurs when money is withdrawn from a bank account and the… … Wikipedia
overdraft — / əυvədrɑ:ft/ noun 1. an amount of money which a company or person can withdraw from a bank account, with the bank’s permission, despite the fact that the account is empty ● The bank has allowed me an overdraft of £5,000. (NOTE: The US term is… … Dictionary of banking and finance
Payment protection insurance — Payment protection insurance, (also known as PPI, credit protection insurance, loan repayment insurance, not to be confused with income protection or credit card cover) is an insurance product that is often designed to cover a debt that is… … Wikipedia
Transactional account — Banking A series on Financial services … Wikipedia
Non-sufficient funds — (NSF) is a term used in the banking industry to indicate that a demand for payment (a cheque) cannot be honored because insufficient funds are available in the account on which the instrument was drawn. In simplified terms, a cheque has been… … Wikipedia
Predatory lending — describes unfair, deceptive, or fraudulent practices of some lenders during the loan origination process. While there are no legal definitions in the United States for predatory lending, an audit report on predatory lending from the office of… … Wikipedia
Barbara Boxer — Infobox Senator name=Barbara Levy Boxer imagesize=220px caption = jr/sr=Junior Senator state=California alongside=Dianne Feinstein term start = 5 January 1993 term end = preceded=Alan Cranston succeeded= date of birth=birth date and… … Wikipedia
House banking scandal — The House banking scandal broke in early 1992, when it was revealed that the United States House of Representatives allowed members to overdraw their House checking accounts without risk of being penalized by the House bank (actually a… … Wikipedia
Unavailable funds fee — Overview The unavailable funds fee, not to be confused with the NSF , overdraft , exceed hold or overlimit fees, is a fee that results from a transaction that posts to a negative available balance and a positive physical balance, as applied to a… … Wikipedia
