If you spend more money than you have in your checking account, your balance will go negative, and your bank will charge you an overdraft fee. Overdraft protection is a feature offered by many banks ...

Julia Kagan is a financial/consumer journalist and former senior editor, personal finance, of Investopedia. Dr. Melody Bell is a personal finance expert, entrepreneur, educator, and researcher. Melody ...

The choice between appropriate loan options becomes vital for urgent financial situations. The freedom they both grant comes from different loan functionalities of overdrafts and personal loans.