Answer: Overdraft fee is a fee for over withdrawing the amount exceeding the available balance in the account.
Step-by-step explanation:
An overdraft facility is the facility given to the current account holder who has withdrawn the amount exceeds the available balance in the account i.e. he is over withdrawing the amount.
So, Overdraft fee is a fee for over withdrawing the amount exceeding the available balance in the account.
This facility is available to current account holder only.
