Answered

What is the definition of overdraft protection as discussed during the lesson?

A. An optional service provided by a financial institution in case you withdraw funds that are not available in your account.

B. An optional service provided by a financial institution that fixes bank register entry errors.

C. An optional service that will decline your transaction if you withdraw too much money as determined by the bank.



Answer :

GinnyAnswer

Final answer:

Overdraft protection is a service provided by banks to prevent exceeding account balances, allowing withdrawals beyond available funds.


Explanation:

Overdraft protection is an optional service offered by financial institutions to prevent transactions that exceed the available account balance. It allows customers to withdraw more than what's in their account, subject to fees, rather than having transactions declined or incurring overdraft charges.


Learn more about Overdraft protection here:

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What is the definition of overdraft protection as discussed during the lesson?

A. An optional service provided by a financial institution in case you withdraw funds that are not available in your account.

B. An optional service provided by a financial institution that fixes bank register entry errors.

C. An optional service that will decline your transaction if you withdraw too much money as determined by the bank.