Does an overdraft count as part of your available balance?

I've opened a student account but not really sure of how it works, if I have 拢5,000 of my own money in this account when it's opened and they've agree to give me an overdraft of 拢1,500 does that count as my balance and therefore take me up to 拢6,500? Would REALLY appreciate if someone could explain how overdrafts work to me.





Thanks xoxo,|||No, your overdraft protection does not count as part of your available balance. Your available balance is the amount of the actual funds that you have in your account. Overdraft protection is merely just insurance against overdrafts. If you ever need it, it needs to be paid back to the bank (and some banks charge hefty fees).|||yes it's part of your available balance - but they are badddddddd!!!!!!|||yes, but when you start to use the over draft you will be charged. if you go over the agreed over draft it will cost you an arm and a leg|||Yes, that amount is included in your available balance but it is like a credit card(technically not your money). If you use it all one day you have to pay a minimum amount every week/month to the bank at that amount I'm guessing it's $25 or so.


I work at Compass Bank and when you come in with your weekly check and have used the overdraft you must pay a portion back, you will continue to receive notices that you have used portions of your overdraft until you have fully paid back the $1500.00|||your overdraft will not show on your balance if you have 5000in there of your money your balance will show 5000...the overdraft is there as a back up allowing you to go over by upto 1.500without having to go to bank but they will charge you if you use it.... normally expensive too so not recommended hope this helps