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Kasz216 on 10 December 2011
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kowenicki said:
Kasz216 said:
Weird. In the US it's a one time charge.

This seems to be about going over an "overdraft limit".

Which, I think it'd be important before judging what exactly the overdraft limits are.


It is about going overdrawn without prior approval.  

If you arrange an overdraft then there is no problem and the rate is less than a credit card.  

People here seem to think it is ok to spend someone elses money without permission... its actually theft if you think about it.   

Here, I don't think there is any other kind of overdraft. (One without prior approval.)

I'm not 100% sure since i've never actually overdrafted...

I mean, you can set up "Overdraft protection" which is more like insurance incase you overdraft, rather then permission.  In which case you get charged something like 12.50 a day.

 

Though without the protection I think it's something like $100 bucks, whether you overdraft $2 or $600.

With maybe a monthly fee if you don't pay by the end of the month?  I'm not sure.  I generally just lent the money to people I know who overdrafted the day they did so.