Business and Personal Finance Dictionary

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• BOUNCE PROTECTION
  
  A high-cost form of overdraft protection. Typically offered automatically to checking account customers, no sign up required. Standard overdraft protection takes money from a customer''s savings account, credit line or credit card to pay an overdrawn check. With bounce protection, the customer must repay the money, usually in 30 days or less. Fees are very high and the customer may lose their checking account if the check isn''t paid in the time allowed.
  
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