If you are managing your own finances as most of us are you should be familiar with the term overdraft protection. What is overdraft protection?
Overdraft protection is simply a service that banks begin to offer during the latter part of the 20th century. This service guarantees that a check you write on your account will be honored no matter what amount you have available in your account.
The service is not free and can be limited on the coverage when the overage remains under a certain amount. The fees will be charged to your account depends on the policy of the bank. Most checks marked insufficient funds can be run a second time through the account after that the bank will not allow it to be processed anymore.
Once you are notified of a bounced check you have to take action immediately to remedy the situation. Normally you would have a couple of days to cover the face value of your check and pay any penalties or fees that are required. If you do not do this you could end up in court for writing bad checks and have to pay court fees plus the possibility of going to jail. So be on your toes and check your checking account balances as often as possible. This is easy to do by just opening an online account with your bank that will give you access to check your available balance anytime you want to. With this knowledge you will be able to avoid bouncing a check.
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