the.com/overdraft
the bank's way of saying yes while charging you for the privilege of saying no.
means a short-term loan that kicks in automatically when you spend more money than you actually have.
from from banking practice dating to 18th-century britain, where clerks would let trusted merchants draw beyond their balance, literally an amount drafted over the account limit.
average us feearound 35 dollars per occurrence
annual industry takebillions collected from overdraft fees yearly
origin eraformalized by bank of england practices, 1700s
protection programsoften cost more than the shortfall itself