alex has not been keeping his banking records up to date. on his latest bank statement, he found that he had…

alex has not been keeping his banking records up to date. on his latest bank statement, he found that he had been charged an overdraft fee for writing a bad check. in addition to his being charged a fee, which of these is another possible consequence of an overdraft?\nthe bank will close the merchants account.\nthe merchant who received his check will be charged an overdraft fee.\nthe bank will cancel his debit card.\nthe merchant who received his check will expect repayment and a penalty fee.

alex has not been keeping his banking records up to date. on his latest bank statement, he found that he had been charged an overdraft fee for writing a bad check. in addition to his being charged a fee, which of these is another possible consequence of an overdraft?\nthe bank will close the merchants account.\nthe merchant who received his check will be charged an overdraft fee.\nthe bank will cancel his debit card.\nthe merchant who received his check will expect repayment and a penalty fee.

Answer

Brief Explanations:

When a person writes a bad check due to an overdraft, the merchant who received the check is out - of - pocket for the amount of the check. They will expect repayment of the original amount and may also charge a penalty fee for the inconvenience and potential processing costs associated with the bad check. The bank does not close the merchant's account for this reason, the merchant is not charged an overdraft fee (it's the account - holder who is charged), and the bank usually doesn't cancel the debit card immediately just for a single overdraft incident.

Answer:

The merchant who received his check will expect repayment and a penalty fee.