bounced check question?

Question

I know when you bounce a check it looks bad on credit but what if you have overdraft protection? Does that get reported?
I use Amsouth. Thanks!

Lisha

Answer 1

Overdraft protection is like a credit card account attached to your bank account. Basically a small loan. If you stay within your overdraft limit and pay back the money on time it should not negativly affect your credit rating in fact paying the money back shows you pay your debts and is a positive mark on your credit.
If you do not pay back the Overdraft on time it will be reported.

Answer 2

I agree with Bob L with one exception. Most current overdraft protection these days IS a credit card.

Answer 3

Bounced checks don't normally get reported to credit buearus unless you don't pay them. And they definately don't get reported if they are covered in your overdraft. You will just get a fee from your bank.

Answer 4

If the check is within the overdraft protection (usually $500. to $1,000.), it won't be bounced (unless you exceed your overdraft!).
Overdraft is credit!

Answer 5

the base line is to touch your economic enterprise and the owner. If the verify grow to be cashed and bounced you will get hit with an excellent from the economic enterprise and effective your landlord. it particularly is often $10 to $40 from each physique. lots of the time a verify would be provided two times so in case you have the money now, you may tell them to re-present day it. As I mentioned, you would be able to desire to speak. call the economic enterprise and locate out if the verify bounced and what the value is. call the owner and ask them what they p.c. you to do. no longer something is extra difficult than no longer having the flexibility to touch somebody who owes you funds.