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Definition of overdraft protection
A short-term source of credit which allows you to overdraw on your account up to a pre-established limit. For example, overdraft protection spares customers both the cost and the personal embarrassment of NSF cheques. overdraft protection is attached to your PCF Chequing Account.
Is an agreement with the Bank or Financial Institution to cover overdrafts. This service will typically involve a fee and be limited to a pre-set maximum amount.
Money owed to the bank in a cheque account where payments exceed receipts.
A feature of some callable bonds that establishes an initial period when the bonds may not be
A federal Act specifying the proportion of
The creditor proof status of such things as life insurance, non-registered life insurance investments, life insurance RRSPs and life insurance RRIFs make these attractive products for high net worth individuals, professionals and business owners who may have creditor concerns. Under most circumstances the creditor proof rules of the different provincial insurance acts take priority over the federal bankruptcy rules.
The amount by which a check or other payments exceeds the funds on deposits.
System whereby a depositor may write cheques in excess of the balance, with the bank automatically extending a loan to cover the shortage.
A loan facility on a customers account at a financial institution allowing the customer to overdraw up to a certain agreed limit for an agreed period.
Protecting domestic industry from import competition by means of tariffs, quotas, and other
Policy of tariffs or import quotas to protect domestic producers from foreign competition.
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