Question

Overdraft protection plans pay a check even though there are not enough funds in the account. There is a fee for this service and the money must be repaid.

True

False

Answer 1

Overdraft protection plans allow customers to make transactions with insufficient funds by covering the shortfall and charging a fee.

Step-by-step explanation:

Overdraft protection plans are a service provided by banks that allow customers to make transactions even if they don't have enough funds in their account. The bank covers the shortfall and charges a fee for this service. The customer is then responsible for repaying the bank.

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