Bank Fees

What is overdraft protection?

• A fee that is charged when an account is overdrafted

• A fee that is charged when purchases are allowed to go through even if there is no money in the account to cover the purchase

• A protection against account thieves

• A protection against fees applied to accounts that are overdrafted

Which situation describes when an excess transactions fee will be charged to an account?

• Elliot wrote too many checks

• Elliot didn't file the correct paper work

• Elliot exceeded the number of withdrawals on the savings account that he has

• Elliot went to the bank too often

A fee for insufficient funds could be as much as?

• $15

• $25

• $35

• $45

Tags

CCSS.6.RP.A.3B

A friend of yours is stuck in Venezuela and needs you to send some cash. Which of the following fees will apply to your account if you send the cash

• wire transfer

• maintenance fee

• overdraft

• ATM

You have to move for work and have decided to close your account, but you haven't had the account for very long. Which fee is going to be charged to your account?

• Account Maintenance

• Transfer

• Moving

• Account closing

True or False: Using ATMs that are not affiliated with your bank, will lead to charges from the ATM provider and your bank.

• True

• False

Banks often waive the maintenance or account fee if which of the following occurs?

• The account does not have too many transactions

• The account stays above a minimum balance

• The account is not used

• The account is a savings account