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3 months ago

Plz, help ASAP!!!!!!!!!!

Business

2 answers:

arsen [3.4K]3 months ago

5 0

Answer:

Her purchase is approved, but she incurs an overdraft fee

Explanation:

Overdraft protection is a credit service from banks that enables transactions to proceed even when an account lacks sufficient funds. This service ensures payments are not declined when the account balance hits zero. Each time a customer utilizes overdraft protection, they are subjected to an overdraft fee.

This service prevents account holders from facing the repercussions of payment failures due to insufficient funds. Banks and vendors impose hefty charges for transactions that result in insufficient funds. In some jurisdictions, bounced checks are deemed illegal.

soldi70 [3.6K]3 months ago

3 0

Answer:

Her purchase is approved, but she incurs an overdraft fee

Explanation:

An overdraft occurs when the amount withdrawn exceeds the available balance in that bank account, which might lead to transaction denials causing major hassle for the account owner. To mitigate such situations, banks typically extend overdraft protection. This means that any transaction, whether done through ATM, electronically, or via check, is safeguarded against going into the negatives by incurring a non-sufficient funds charge.

Non-sufficient funds charges are imposed by the bank for accessing overdraft protection, with fees applied per transaction. Generally, this means a greater number of transactions will yield higher fees, with most U.S. banks charging around $35 for these non-sufficient funds occurrences.

In this case, Tori's $90 purchase surpassing her $75 balance will be authorized due to overdraft protection, though she will be liable for an overdraft fee.

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3 months ago