Banking Fees and Un banking

Why would someone pay an overdraft fee?

• To earn APY

• When they take out more money from their account than they have

• When someone transfers money from their checking to their savings account

• None of the above

What does it mean when you pay an out-of-network atm fee?

• You use your banks ATM in a different state

• You have Chase and use a Chase ATM

• You have Chase and use a CitiBank ATM

• You go inside the bank to withdraw money

Which of the below is a circumstance where you would pay a minimum balance fee?

• You receive direct deposit into your account

• You switch from a commercial bank to a credit union

• You transfer money from your savings to your checking account

• Your savings account goes below the required amount

Overdraft protection could prevent an insufficient funds fee

• True

• False

Overdraft is similar to...

• A debit card

• A loan

• A salary increase

• APY

What is an overdraft fee?

• A fee that the bank charges you if you spend more money than you have in your account.

• A fee that the bank charges you to have an account.

• A fee that the bank charges you for withdrawing money from an ATM.

• A fee that the government charges you for having a bank account.

All of the following ways that you could potentially avoid a monthly maintenance fee on your account EXCEPT

• meeting a monthly minimum balance requirement

• only banking online instead of using physical bank locations

• having both a checking and savings account with the same bank

• finding a bank that offers accounts with no monthly maintenance fee

What is a monthly maintenance fee?

• A fee charged for closing a bank account

• A fee charged for keeping a bank account open

• A fee charged for transferring money to another bank

• A fee charged for depositing a check

Tags

CCSS.RI.11-12.3

CCSS.RI.11-12.5

CCSS.RI.9-10.3

CCSS.RI.9-10.5

CCSS.RI.8.3

What is an account balance fee?

• A fee charged for withdrawing money from a checking account

• A fee charged for having a low account balance

• A fee charged for depositing money into a savings account

• A fee charged for transferring money between accounts

What is an ATM withdrawal fee?

• A fee charged for depositing money into a checking account

• A fee charged for using an ATM to withdraw cash

• A fee charged for transferring money to another bank

• A fee charged for writing a check