What is an overdraft and is it worth using: It's a useful feature - but how much does it cost
Overdraft is a service that can be connected by the bank.
If there is not enough money in the account, the client will still be able to spend a little more.
When the money arrives in the account, part of the amount will first be used to pay off the debt.
It is important to remember that overdrafts can be of different sizes – carefully read the terms of cooperation with the bank.
Advantages and disadvantages of overdraft
It is important to remember that an overdraft does not fall under the category of a regular consumer loan and is also not provided under the terms prepared for a credit card.
The overdraft is not issued for a long time and is repaid immediately after any amount is received into the account.
The amount for an overdraft is relatively small, and the terms for issuing it are less favorable than when applying for a loan. The terms of issuance differ for different banks.
Previously, we talked about when scammers call twice.
