Overdrafts in one chequing account can be offset by positive balances in other accounts, only if the accounts are at the same financial institution.

Question

Quizplus · Accepted Answer

This is true. If a person has multiple accounts with the same financial institution, the positive balance in one account can be used to offset an overdraft in another account. This is called an account link or account relationship. However, this only works within the same financial institution and cannot be done across different banks.

Overdrafts in One Chequing Account Can Be Offset by Positive