(1) Do you know Overdraft charges are fees withdrawn by a bank when a customer successfully conduct a particular transaction from his bank account which does not have sufficient funds to cover the transaction. The withdrawal is always done upon a subsequent funding the account. In other words, bank accounts do go into overdraft when more money has been taken out of the account than was actually therein. Let's say a bank account has N1000 therein, but the customer makes a debit card purchase for N1100, pushing the account N100 into overdraft. Subsequently the bank automatically withdraws a certain fee/charge for allowing such transaction whenever the account is later funded. Such fee/charge is referred to as overdraft charge/fee. (2) Do you know that 61 percent of bank profits from consumers come from overdraft and insufficient fund fees. In most cases customers have complained that they never asked their banks to provide overdraft protection they assumed upon attempt to make a tr...