Question

A person might accidentally overdraw because they did not record an ATM withdrawal. True or False?

Answer 1

TRUE

Explanation:

An overdraw is when money is withdrawn from a bank account and the balance left goes below zero. When this happens banks may charge a fee for the overdraft and these fees vary depending on the amount of the negative balance or even the number of overdrafts. The overdraft is caused by not keeping track of how much money you have in your account through recording all debit card purchases, checks written, ATM withdrawals and fees, and automatic bill payments or other electronic payments.

Answer 2

A person might accidentally overdraw because they did not record an ATM withdrawal. This is TRUE

Overdrawing money means when a person withdraws more money from his account, than the total amount that his account actually holds. So, if a person has not recorded his ATM withdrawal records, the account can go into negative balance. If the account is not brought to a positive balance, then an additional negative balance fee will also be charged.