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? The bank will close the merchant's account. The merchant who received his check will be charged an overdraft fee. The bank will cancel his debit card. The merchant who received his check will expect repayment and a penalty fee. Ther

When Alex wrote a bad check, not only did he incur an overdraft fee, but the merchant who received that check is likely to expect repayment. Additionally, the merchant may also impose their own penalty fee for the inconvenience caused. This creates a frustrating cycle of fees and stress, as Alex now has multiple financial obligations stemming from one oversight. It's always important to keep a close eye on banking records to avoid such situations. Common mistakes include forgetting to track outstanding checks or not regularly reconciling accounts. A proactive approach, like setting up alerts for low balances or using budgeting apps, can help prevent overdrafts and ease overall financial management.