Is bank overdraft a liability?
117436
I assume you are speaking of liability in accounting terms (as in the accounting equation: Assets – liabilities + owners equity.) For your books an overdraft occurs when you have a negative balance in your checking account that was caused by a payment of checks drawn against insufficient funds.  In terms of the balance sheet, I don't think it would ever be a liability if the funds are returned to pay the cost.  It only becomes a liability if checking account funds are not replenished and the debt remains.    For accounting terms I am pretty sure you would record the overdraft as you would any bank charge or other normal expense.
441149
In the U.S. it varies by state. Kiting checks or forging and altering them is a different offense than passing bad checks but in general any amount over $500 not paid for any reason is considered a felony. Some states have lower thresholds. UK I have no idea because banks there allow overdrafts as short term loans.
1146050
The more comfortably well off you are financially, the less you have to worry about paying off bills...... such as a big electric bill..... or perhaps your car suddenly needs the head gasket replacing, or the brakes overhauling...... and you don't have to worry as much about your bank screwing you with a £28 after being put overdrawn by a direct debit (or the bank fining you after they put you overdrawn by fining you).
209661
Most bank's charge $25-50 for overdraft fee's. Best bet is to call your bank and talk to them, and see if they will refund the fee.
137919
The bank is not responsible to make sure that funds are available. It is the depositors responsibilty. The best that can be done is to talk to the bank that the check was drawn on to find out if funds are available to cover it, and of course, sue the writer of the check.
964675
you will be charged overdraft fees\nbut when you return something it should go right on your account
1103230
It depends.  They do offer it for Equity Plus MBT's home equity loans.  You will have to call them to see if your account can have overdraft protection.
46356
check with the bank. it should be fine.
331731
(m)\n\nOverdraft - The amount by which withdrawals exceed deposits, or the extension of credit by a lending institution to allow for such a situation. \n\ncash credit - A short-term cash loan to a company. \n\n\nThe difference is very subtle and relates to the operation of the account. In the case of Cash Credit, a proper limit is sanctioned which normally is a certain percentage of the value of the commodities/debts pledged by the account holder with the Bank. Overdraft, on the other hand, is allowed against a host of other securities including financial instruments like shares, units of mutual funds, surrender value of LIC policy and debentures etc. Some overdrafts are even granted against the perceived "worth" of an individual. Such overdrafts are called clean overdrafts.
538502
A. An overdraft is when you have *overly drawn* on your account. And it usually is accompanied by a overdraft fee.
1126675
I don't the the question is about criminal liability although clearly if it was percieved you were involved in the fraud knowingly you could face charges.\n\nThe money can be taken back from your account at any point, as it may go several weeks / months before the cheque is discovered to be counterfeit. (i.e. whenever the account holder gets his statement and spots it, rings the bank and they trace the account into which it was paid from the document handler line on the back). At that point you will lose the money!\n\nMost of the Banks are wise to the number of forgeries out there, as are companies in the IT sector receiving large orders from Nigerian businessman, who then pay with a UK cheque! \n\nIf ever in doubt get your bank to check it out for you. They are your best hope.
1028643
Take out Overdraft protection on the account. It weill allow you to go over your limit but at a cost.
845313
Yes\n\nVisa electron will always check your account to make sure there is oney there before authorising the transaction.\n\nVisa debit will have house limits with many retailers and not check your account balance before authorising the transaction. So you could spend more money than you have in the account or on an overdraft facility.\n\nBe careful, your bank will charge you if you abuse it, around £30 each time you spend without money being in the account!
690269
Yes, I do. Your money is federally insured - FDIC up to a huge amount of money. Just balance your statements and you'll be fine. When you find a mistake, you call them on it. Usually, they put whatever amount of money is in question back into your account until they finish their investigating of what happened. If they are right, they take the money back out of your account. If the bank is wrong - which I have seen before - they send you a letter saying you were right! That's the best part! But they will send a letter either way.
888174
Yes it is possible, if you  have overdraft protection....but you will pay a fee.
1184293
Sorry to tell you this-nothing. Two over the limit fees can be charged. She was overdrawed in the beginning.\nSorry.
738193
its like the BBB. a place where you can file a complaint and hope to see a conclusion to your problem.\n\nI used it once for site that withdrew money from my checking acct. without my permission. I was refunded the amount plus the over draft fees within 2 weeks after my report appeared on that site.