Answer/Step-by-step explanation:
An overdraft can be triggered by any action that results in a negative account balance. For example: An automatic payment deducted from your account when you don't have enough money to cover the cost. Basically, an overdraft means that the bank allows customers to borrow a set amount of money. There is interest on the loan, and there is typically a fee per overdraft.
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[RevyBreeze]
The answer to your question: overdraft can be triggered by any action that results in a negative account balance. This might also include: An automatic payment deducted that can be deducted from your account when you don't have enough money to cover the cost.
Step-by-step explanation:
When you make a purchase that brings your account balance below the number zero, any bank can decide whether to decline the purchase or pay it for you, overdrawing your account.
Most of the time, a bank or credit union will base the overdraft on your available balance—the amount of money in your account that you can spend, withdraw, or cover transactions. Sometimes, your listed balance is different from your available balance, so be sure to check your available balance and verify what the bank actually believes you can spend. Additionally, know that banks might order transactions in different ways, reducing your available balance. For example, a debit might be taken out before a credit is applied, which can result in an overdraft, even if you think you have sufficient funds in your bank account.
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