What Is The Meaning Of "Bank Overdraft" And "Cash Credit"?


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Bank Overdraft protection is a service that can help you prevent returned items due to insufficient funds in your checking account. When an item is presented against an account with insufficient funds, overdraft protection may cover that item and allow payment.
Cash credit works in a manner that is very similar to that of a line of credit. The difference is that cash credit establishes a cash account with the lender institution that can be drawn upon by the debtor..

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