Question

Karina keeps excellent records and always knows precisely how much is in her bank account. However, when she receives her bank statement, she’s surprised to see that she has been charged a $5.00 overdraft fee. After reviewing her well-kept records, she cannot find anything that is incorrect. Which would be the best action for Karina to take?

Answer 1

The best action that Karina have to take is to check her records in the back, so she would know why something like that happened because may be there was an error in recording in the bank. Since, an overdraft free will only be charged if the withdrawal from an individual's bank account goes beyond the available balance.

Answer 2

The best action for Karina to take is to again reconcile the bank statement and check all the transactions properly.

What is an overdraft?

An overdraft happens when money is moving back in extra of what is on the current account. In this situation, the account is said to be “overdrawn”.

An overdraft occurs when there is a transaction against your account that takes the balance below zero.

So, in the given case, the best action that Karina has to take is to check her records in the back, because there may be an error in the bank is recording the transaction.

Since an overdraft free will only be charged if the withdrawal from the bank account of an individual goes beyond the available balance.

Therefore, Karina has to reconcile the statement to settle the $5.

Learn more about overdraft, refer:

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