Question

question 7 of 10
what is overdraft protection?
a. a service provided by the bank to provide monthly statements of the current balance in an account
b. a service provided by the bank that automatically moves money from one account to another to keep the balance above $0
c. a situation in which a customer gets too much cash from an automatic teller machine
d. a situation in which a check is returned to the customer for nonpayment

Explanation:

Overdraft protection is a banking service designed to prevent account holders from having a negative balance. When a transaction would make the account balance drop below $0, the bank automatically transfers funds from a linked account (like a savings account) to cover the shortfall, avoiding overdraft fees or declined transactions. Option A describes monthly account statements, option C is an ATM error, and option D refers to a bounced check, none of which match the definition of overdraft protection.

Answer:

B. A service provided by the bank that automatically moves money from one account to another to keep the balance above $0