Join Examsbook
518 0

Q: What is overdraft protection?

  • Show AnswerHide Answer
  • Workspace

Answer :
Explanation :

Overdraft protection is a service that is provided by a bank to their customer. For instance, if you are holding two accounts, saving and credit account, in the same bank. Now if one of your accounts does not have enough cash to process the cheques, or to cover the purchases. The bank will transfer money from one account to another account, which does not have cash so to prevent check return or to clear your shopping or electricity bills.

Are you sure

  Report Error

Please Enter Message
Error Reported Successfully
google play

The Most Comprehensive Exam Preparation Platform

Get the Examsbook Prep App Today