If your bank has allowed you to withdraw funds from your account, and a check that you previously deposited is bounced by the bank it is drawn on, your bank has the legal right to charge your account for the amount of the bounced check, even if it creates an overdraft. The fact that your bank allows you to withdraw some or all of the funds you've deposited does not mean that the deposited checks have been paid by the banks on which they are drawn. It only means that your bank has advanced you the amount withdrawn from the uncollected deposit amount.
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If your bank has allowed you to 