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  • 2 months later...

It's called overdraft protection and it's been around quite awhile. It's not a specific loan usually... It's typically attaching a current credit card or savings account to the checking. In the event of an overdraft the amount of the overdraft gets pulled from the linked account.

It's also bad- there are usually fees with it since we all know banks are for-profit entities. Also, it does zero good to the underlying problem of the person who does the over-drafting. It feeds the laziness of the habitual offender.

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  • 8 months later...
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