An arrangement that protects a customer who writes a check or uses a debit card for an amount that exceeds the checking account balance is called
A) liquid investment.
B) stop payment.
C) overdraft protection.
D) automatic transfer.

Question

Quizplus · Accepted Answer

Overdraft protection is a financial service that banks offer to customers to prevent checks from bouncing or debit transactions from being declined due to insufficient funds in the checking account. It typically involves the bank covering the excess amount, though often with a fee.

An Arrangement That Protects a Customer Who Writes a Check