Costs & Features of a Checking Account

What is an overdraft fee?

• A fee charged when you write a check

• A fee charged when your account balance falls below $0

• A fee charged when you use your ATM card

• A monthly fee charged for using a checking account

Which is not a feature of a checking account?

• debit card

• bill pay

• direct deposit

• lottery ticket

Jake typically has a $200 balance in his checking account. Which bank should Jake choose to pay the least amount of fees?

• Texas State Bank because $15 is less than 1% of $200

• Lone Star Bank because 1% of $200 is less than $15

• Either bank because the fees will be the same

If you typically have an account balance of $400, which bank account should you chose?

• Texas State Bank

• Lone Star Bank

• Either bank will be the same cost for fees

• Not enough information

If you open an account at Lone Star Bank and typically have $325 in your account, how much will you pay in monthly fees?

• $325

• $32.5

• $3.25

• $0.33

Eagle State Bank charges a $10 monthly fee for a checking account balance below $500 and $2 each time you use another bank's ATM machine. Jared usually has a balance of $350 and uses another bank's ATM machine 4 times a month. How much will Jared's total checking account fees typically be?

• $12

• $14

• $10

• $18