Spending more than you have, sharing your PIN, and losing track of your account balance can all lead to major problems down the road. It’s important to use strategies that help prevent these checking account pitfalls.
Watch the video to learn more about Avoiding Account Issues, then test your knowledge at the end of the lesson.
When you spend more money than you have in your checking account, it can lead to:
A. Overdraft fees
B. Credit score damage
C. Negative reports on ChexSystems
D. All of the above
Some options for overdraft protection include…
A. Courtesy pay, savings transfers, and home equity line of credit
B. Courtesy pay, overdraft transfers, and overdraft line of credit
C. Direct deposit, overdraft savings, and overdraft line of credit
D. Direct deposit, overdraft transfers, and overdraft pay plan
The Electronic Fund Transfer Act limits what you’re responsible to pay in cases of unauthorized charges.
A. True
B. False