Final answer:
The feature not commonly offered by financial institutions is paper checks, as some savings accounts do not allow direct check writing.
Step-by-step explanation:
The feature that is NOT a common feature of a financial institution among the ones listed is paper checks. Modern financial institutions offer various services that facilitate the ease of transactions and minimize the need to carry cash. They provide access to investment products, access to ATMs, and the ability to set up direct deposit. However, not all accounts, like some savings accounts, offer the ability to write paper checks directly.
Banks are critical as financial intermediaries, helping to coordinate supply and demand in the financial market and offering products such as checking and savings accounts, which protect money under the FDIC.