What Is Nsf Od Charge Memo

The term non-sufficient funds (NSF), or insufficient funds, refers to the status of a checking account that does not have enough money to cover transactions. … If a bank receives a check written on an account with insufficient funds, the bank can refuse payment and charge the account holder an NSF fee.

What is an OD charge?

Overdraft fee definition: An overdraft fee is a charge you receive from your bank when you spend more money than you have available in your bank account, usually your checking account.

Why did I get charged a NSF fee?

NSF fees are charged by banks and credit unions when a check or other payment transaction is returned unpaid because you don’t have sufficient funds to cover pending transactions.