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Suppose you issue a check. You later discover that there isn’t sufficient balance in your account to honor the check but the check has already come up for presentation. How would you plan ahead to mitigate this scenario?
The only option that I can think of is to avail an “overdraft” facility on your account. In the past, I’ve actively advocated against availing this facility, but if you’re mature with your finances, an overdraft could be a reasonable fallback mechanism.
Is there any other fallback mechanism that you can think of? Also, do you know if the overdraft facility can be restricted to be exercised only against checks and not at the ATM/PoS?
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