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Don has been suffering from some intense feelings of anxiety and decides to seek some help from a psychotherapist. Unfortunately, there is long waiting list and the first available appointment is 9 weeks away. Disappointed, Don decides to put his name on the waiting list anyway. A few weeks pass and even though he has done nothing to address the problem, Don's anxiety symptoms begin to fade and eventually disappear. This example best demonstrates the phenomenon called
Insufficient Funds
A situation where one's bank account does not have enough money to cover checks or electronic transfers made against it, potentially resulting in a bounced check or declined transactions.
Drawer's Account
In financial terms, the account belonging to the person who writes a check or draft instructing a bank to pay a designated amount of money.
Honor The Check
The act of a bank or financial institution completing the transaction by paying the amount specified on a check from the payer's account to the payee or holder.
Account Aggregation
A financial service that compiles information from various accounts, belonging to an individual or entity, into a single platform for easier management and analysis.
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