Question

An overdraft fee is a fee for _____.

Answer 1

An overdraft fee is for when you buy something but didint completely pay it with your money and the bank pays it off and you end up owing extra for the bank paying

Answer 2

Answer: Overdraft fee is a fee for over withdrawing the amount exceeding the available balance in the account.

Explanation:

An overdraft facility is the facility given to the current account holder who has withdrawn the amount exceeds the available balance in the account i.e. he is over withdrawing the amount.

So, Overdraft fee is a fee for over withdrawing the amount exceeding the available balance in the account.

This facility is available to current account holder only.