Open An Account

The bank keeps your deposit until you are responsible enough to spend it wisely.

• False.

• True.

Why would someone use a savings account if they offer such low-interest rates?

• It can be used for short-term saving or emergencies.

• They have unlimited withdrawals and deposits.

• You can put more money in a savings account than in stocks.

What is the main difference between a savings account and a checking account?

• Savings accounts offer extremely high interest rates.

• Savings accounts don't have minimum balance requirements.

• Checking accounts usually offer unlimited withdrawals and deposits.

When comparing deposit accounts, which of the following do you need to keep in mind?

• Withdrawal limits.

• Interest rates.

• Account fees.

• All of the above.

The following defines what? “An account for daily transactions, withdrawals, and deposits.”

• Investment account.

• Savings account.

• Checking account.

Which of the following is not an available type of checking account?

• Emergency Account.

• Student Account.

• Joint Account.

Which of the following is not a way to deposit money into a checking account?

• Direct deposit.

• Visiting a branch.

• Using sheer willpower to get a check into your account.

• Using your mobile Banking App.

The lowest dollar amount you must have in the account is called the:

• Minimum Balance.

• Currency Minimum.

• Checking Minimum.

Why might a college freshman open a student checking account?

• They would be able to use their own debit card.

• They would be able to manage their own money.

• They might get discounts on student-related expenses.

• All of the above.

Oh no! You accidentally overspent! It was your first offense. What will your bank probably do?

• Make an exception and issue a warning.

• Charge her a high fee.

• Freeze her account.