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What is the difference between Overdraft Protection and Overdraft Privilege?

April 26, 2017overdraft privilege

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What is the difference between Overdraft Protection and Overdraft Privilege?

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A. Overdraft Protection is offered to all members who have savings accounts with balances over $50 while Overdraft Privilege is a privilege offered to select members based on the criteria mentioned above. Overdraft Privilege is used when there are no funds in either your savings or line of credit to cover NSF checks.