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Overdraft Fee
Explanation:
An overdraft occurs when a bank customer makes an ATM withdrawal, a debit purchase, or an electronic payment (automated payments are included), or writes a check for an amount that is greater than what the checking account holds. If the bank chooses to honor the payment even though the account lacks sufficient funds, an overdraft fee is charged to the account holder. This fee varies, depending on the terms of the checking account, but is typically in the range of $25 to $35. Many banks offer several types of overdraft protection to help avoid this fee.