What is the name for an automatic loan made to your checking account whenever your account does not contain enough cash to cover the checks that you have written against it?

Question

Quizplus · Accepted Answer

The correct name for an automatic loan made to your checking account whenever your account does not contain enough cash to cover the checks that you have written against it is overdraft protection. This service is usually offered by banks or credit unions and comes with a fee or interest rate. The amount of overdraft protection depends on the account holder's credit score, account history, and other factors determined by the financial institution.

What Is the Name for an Automatic Loan Made to Your