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?\no the bank will close the merchants account.\no the merchant who received his check will be charged an overdraft fee.\no the bank will cancel his debit card.\no the 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?\no the bank will close the merchants account.\no the merchant who received his check will be charged an overdraft fee.\no the bank will cancel his debit card.\no the 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 loses the expected funds. Merchants typically expect repayment of the check - amount and may also charge a penalty fee for the inconvenience and potential cost of handling the bad check. The bank doesn't close the merchant's account for this reason, the merchant isn't charged an overdraft fee (it's the account - holder who gets that), and the bank doesn't usually cancel the debit card right away just for one overdraft.

Answer:

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