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If I write a cheque that will make me £10 overdrawn - but I have a £100 overdraft - will it bounce?

2006-07-09 09:14:39 · 7 answers · asked by Anonymous in Business & Finance Credit

7 answers

Your check will bounce if you no longer have any money in the bank to cover the check at the time of its presentation to your bank. It normally won't bounce if you have enough overdraft limit left to cover both the check amount and the fee the bank charges for an overdraft. If not then it will bounce.

2006-07-09 09:19:29 · answer #1 · answered by Stone 1 · 0 0

No... that's the whole point of having overdraft protection. Though, I know my mom had it but I never saw it. Checks I wrote to credit card companies bounced all over the east coast. Also keep in mind, the bank may still charge you for that-probably not, but I wouldn't put it past them.

2006-07-09 16:54:55 · answer #2 · answered by craiger75@verizon.net 1 · 0 0

most banks allow you to go £10 over your overdraft but i would avoid writing the cheque unless desperate banks are always out to make money

2006-07-09 09:23:38 · answer #3 · answered by scooby doo 24 2 · 0 0

Yes and you'll receive a fee from the bank. After you reach your overdraft limit, the bank will refuse the checks from the person you wrote it to. Then you'll be charged a fee from the bank and a return check fee from the company you wrote the check for.

2006-07-09 09:19:34 · answer #4 · answered by Mariposa 7 · 0 0

Your check won't bounce, that's what your overdraft protection is for.

Make sure that you don't have to transfer the funds yourself.
Also, make sure that there are no fees for the transaction to happen.

2006-07-09 09:21:20 · answer #5 · answered by Anonymous · 0 0

nope - but the nest time you deposit 20 lbs you'll only have 10 lbs (I'm sorry, don't know how to make the pounds sterling symbol)

2006-07-09 09:18:39 · answer #6 · answered by ? 6 · 0 0

and what is a cheque??

2006-07-09 09:18:56 · answer #7 · answered by summerglow 5 · 0 0

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