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How Can My Overdraft Limit Be Less Than My Balance?

The overdraft limit is the money value allowed by the bank, which can be withdrawn in addition to the credit bank balance in your account. Let’s find out how your overdraft limit be less than your balance!
How Can My Overdraft Limit Be Less Than My Balance?
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Banks offer their customers several advantages. One such benefit is the overdraft facility that has been made easily accessible to account holders. As per this facility, a customer is allowed to withdraw money from their bank account even though the balance shows zero. It is important to know that an overdraft facility is usually offered to withdraw a limited amount.

What is an Overdraft Limit?

The overdraft limit is basically the money value permitted by the bank, which can be withdrawn in addition to the credit bank balance. Moreover, the bank also charges extra fees if a customer exceeds his/her overdraft limit or for bounced payments. 

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Allan Moses

An editor and wordsmith by day, a singer and musician by night, Allan loves putting the fine in finesse with content curation. When he's not making dad jokes or having fun with puns, he's constantly looking to tell stories out of everything.

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This page is purely informational. Beem does not provide financial, legal or accounting advice. This article has been prepared for informational purposes only. It is not intended to provide financial, legal or accounting advice and should not be relied on for the same. Please consult your own financial, legal and accounting advisors before engaging in any transactions.

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