Are you concerned if my account is overdrawn?


Yes, because for the bank this represents a risk and a cost, both financially and in terms of processing time. When an account is opened, an agreement is signed between the client and the bank. A credit facility, determined according to the client's profile, may be established. Fees may be applicable if this agreed amount is exceeded. This "unauthorised" overdraft is not in the best interests of the client. Neither is this in the best interests of the financial adviser, who must carry out additional work to verify the account position and support a client who may be dissatisfied with the situation. Finally, from a more general point of view, all such unauthorised credit that the bank has to deal with constitutes a level of debt that is unforeseen and therefore more risky and more costly than "traditional" debts.


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