Definition
A service that covers transactions when your bank account balance is too low, helping you avoid declined payments and fees.
What to consider
- Review your plan’s details to understand any fees.
- Use it as a backup, not a routine solution.
- Monitor your account to prevent relying on it too often.
Real world scenarios
- After nearly bouncing a check, Julia enrolled in an overdraft protection plan that automatically covered her transactions and prevented extra fees.
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