What is overdraft protection Do you pay for that

I thought overdraft protection was just tying your savings account to your checking.Please edify, elucidate, and englighten me.
      Answer1:Overdraft protection is a type of instant pre-approved loan: if for any reason your accounts balance drops below zero (because of a check or an automatic payment or withdrawal), the bank still shells out the money for it (the check is not sent back as having "insufficient funds") and your account will have a negative balance.This negative balance is like an instant loan on which you pay interest as it it were a loan (and the interest is often higher, almost comparable with interest on cash advances on a credit card).There is usually a limit on the amount of overdraft you are allowed on the account.
      Answer2:It could be any of checking/savings account or credit card from the same bank, or separate overdraft account (that charges interest and likely has an annual fee). If you use a credit card it would likely be considered a cash advance (for fee and interest).I would not know if any of those get you out of an overdraft fee, because you should never intentionally overdraft, and I have not accidentally done that for many years.
      Answer3:Judy - Overdraft protection doesnt pertain to your savings account; its a checking account feature that essentially offers you a line of credit on your checking account in case you write checks that exceed your account balance.So if you have $10 in your account and write a check for $25, for example, you will not get charged for bouncing the check as long as you have overdraft protection.Banks do typically charge for overdraft protection, but it can cost significantly less than the bank might charge you for a bounced check. Fees differ - you ought to check with your own bank so you can make the best decision.Good luck!Stephanie Fiermanhttp://www.stephaniefiermanmarketingdail...http://www.stephaniefierman.com
      Answer4:Overdraft Protection ~ this service will not have a monthly fee if you signed up for a promo that offers this as a free service for example: opening a Savings Account and linking it to your Checking Account for an Automatic Savings Plan.If you have an Overdraft Protection and your account incurs overdraft transactions they will not charge you $35.00 (amount varies) for every overdraft transaction that occurs in your account. If you have Overdraft Protection and they still charged you the overdraft fees call the bank because they might have charged you by mistake (this happened to me before) and have those overdraft charges credited back to your account. If you dont have overdraft protection and you have overdraft transactions that are around the amount of $5.00 below you can still ask the customer rep. to waive some of the overdraft charges since the amount that caused the overdraft was a nominal one.