With the recession due to bite even harder, you may well need to utilise the overdraft facility with your bank account. before you do there are a couple of things to bear in mind.
the first thing to remember when considering an overdraft, is the effective annual rate (EAR) and cost.
secondly is the available interest free overdraft protection provided by some banks, this is an extra level of spend, over and above the stated and agreed overdraft rate that you have made with the bank before they will apply/enforce any fees/interest on any unauthorised overspend on your part.
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