O Flashcards
1
Q
What is an Outstanding Balance?
A
The amount left to pay.
2
Q
What is an Overdraft?
A
An agreed overdraft is the limit up to which the account holder may borrow from the bank when there are no remaining funds in the account. Going over the agreed limit will lead to extra charges being added.
3
Q
What is an Over-limit Fee?
A
The fee charged to credit borrowers who increase their balances overreaching the allowable credit limits.
