Final answer:
Erasures or alterations on withdrawal and deposit slips can raise validity concerns and lead to delays or requirements to fill out new slips. Overdraft fees penalize spending more than available funds in accounts. Bank runs, fueled by uncertainty, can lead to bank failures, though modern regulations and insurances aim to prevent such situations.
Step-by-step explanation:
When handling financial transactions such as deposits and withdrawals, it is essential that the transaction documents like withdrawal and deposit slips are filled out correctly without errors or erasures. If there are any erasures or alterations made on a deposit or withdrawal slip, it could raise concerns about the validity of the transaction and may lead to delays while the bank verifies the information. In some cases, for security and accuracy reasons, a bank may require you to complete a new slip.
If you find yourself with a negative balance due to spending more money than you have in your account, you could face an over draft fee, which is a penalty for carrying a negative balance. Banks charge these fees to discourage overspending and to compensate for the risk and administrative costs they incur when you draw more funds than are available in your account.
Moreover, significant uncertainty regarding a bank's stability may result in a bank run, where fear leads depositors to withdraw their funds en masse. If a bank cannot meet these demands, it may indeed fail, as seen historically and depicted in films such as "It's a Wonderful Life." However, modern banking regulations and insurances like the FDIC in the United States help prevent such scenarios by ensuring bank supervisors act promptly to issues identified and providing depositor insurance.