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Financial Responsibility

Question 6 • Personal Finance - EL3403

Which is a disadvantage of withdrawing more money than is available in a checkingaccount?

Answer
A
late payment fee
B
overdraft fee
C
interest fees

Explanation

Withdrawing more money than your checking account contains creates an overdraft. The bank may charge an overdraft fee for covering or processing the transaction, so the correct choice is “overdraft fee.”

AI-written and checked against the verified answer.

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