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Negative Account Balance Fee
In addition to the one-time overdraft fee that banks charge when a customer withdraws more money than his checking account holds, many banks also charge extended overdraft fees -- also known as negative account balance fees. This fee is assessed on a periodic basis (i.e. $5 every 2 days), though the timing of it first being charged varies from bank to bank. For example, some banks first impose the fee after the account has been overdrawn for five days.. It's therefore a good idea to check your account's Fee Schedule to determine how your bank handles extended overdrafts.