Which of the following is a common Add-On/Ancillary Service in Retail Banking?

Overdraft Protection is considered a common Add-On/Ancillary Service in Retail Banking because it serves as an additional safety net for customers who may inadvertently overdraw their checking account. This service helps prevent declined transactions and the associated fees or embarrassment that can occur when an account lacks sufficient funds. By offering overdraft protection, banks enhance the customer experience and foster customer loyalty, as it provides peace of mind knowing that funds are available when unexpected expenses arise.

In contrast, Vehicle Loans, Home Loans, and Credit Cards are more primary services in banking. They essentially represent core products that customers utilize for their major financial needs, such as purchasing vehicles, buying homes, or managing everyday expenses and credit. While each of these products is important, they do not fit the definition of an ancillary service as directly as overdraft protection does. Thus, understanding the specific roles these products play in retail banking helps clarify why overdraft protection is categorized differently.