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Do banks have a limit on overdrafts ?
Asked by Pretty_Lilly (4660)
February 10th, 2010
Something,I personally hate and my bank continues to do so,even though,I have repeatedly requested for them not to allow any type of an overdraft,,, but my question is: Do banks have a limit on the amount of the overdraft for them to still honor the transaction ? If so what is it ?
The reason I am asking is my aunt plans on running an $800 overdraft on her checking account and repaying it with the accompanying fees/charges when she gets her tax refund check.
I just do not see the bank allowing it .
ps: please no speeches about it being unethical,that is not what my question is about !
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