OH they did LOL when I was overdrawn at bank $20k a few times with a $1k overdraft. It never bounced but eventually they made settlement to the bank not an option - likely in everyones best interest lol. that was 20 years ago
same as cheque Kiting really where say hypothetically a guy knows payroll will clear his corp account on a Thursday so deposits a personal cheque knowing it will not clear his bank until Monday and then prays some supplier cheques come in FRiday to write corp cheque back to personal. THis is all hypothetical of course.
I don't think you could do that know 0 I deposited a customer cheque in my corp account a few months ago and it scans at the ATM machine and it cleared her account an hour later as I have access to her bank and was amazed at that when I logged on
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.