FINE PRINT: Checking Account Agreement

1. A Student Checking account would be classified as what type of account according to the Agreement?

• Basic
• Special
• Premium
• Premier

2. Which of the following is TRUE about a TCF Free Student Checking Account?

• The minimum deposit to open the account is $25
• The monthly maintenance fee is $15 per month
• The account earns interest, which makes this a good savings account too.
• There is a $3 withdrawal fee for using an ATM in the TCF ATM Network.

3. Assuming you have a TCF Free Student Checking Account, which fee would end up costing you extra money?

• Out-of-network ATM fee
• Monthly maintenance fee
• Paper statements fee
• Account closing fee

4. You choose Option A for Overdraft Options. What would happen if you had $30 in your checking account and you tried to take out $45 at the grocery store using your debit card?

• Your transaction would be denied, you’d have to return the groceries, and you would be charged an overdraft fee.
• Your transaction would be denied, you’d have to return the groceries, and you would NOT be charged an overdraft fee.
• Your transaction would be processed so you can purchase the groceries, but you would NOT be charged an overdraft fee.
• Your transaction would be processed, but you’d have to return the groceries, and you would be charged an overdraft fee.

5. You choose Option B for Overdraft Options. Assume that you have $30 in your checking account and $50 in your savings account. What would happen if you tried to take out $45 at the grocery store using your debit card?

• Your transaction would be denied and you would have to return the groceries if you didn’t have the cash to pay for it.
• Your transaction would be approved since the bank would transfer money from your savings to your checking account, and you’d be charged a $10 fee.
• Your transaction would be approved since the bank would transfer money from your savings to your checking account, and you’d be charged a $37 fee.
• Your transaction would be approved and the entire $45 bill would be charged to your savings account, not your checking account.

6. You choose Option D for Overdraft Options. What would happen if you had $10 in your checking account and completed the following debit card transactions on the same day:

• You would be able to purchase the groceries, but would not be able to buy the movie tickets and popcorn and soda.
• You would be able to purchase everything, and you would be charged one overdraft fee of $37.
• You would be able to purchase everything, and you would be charged three overdraft fees totaling $111.
• You would be able to purchase everything, and you would owe the bank $70 and be charged three overdraft fees totaling $111.

7. Assuming you have a TCF Free Student Checking Account, how many maximum overdraft fees can you incur in one day?

• 1
• 2
• 5
• 8

8. Which of these TCF checking account fees is the MOST expensive?

• Stop Payment Fee
• Deposited Item Return Fee
• Paper Statements Fee
• Overdraft Fee (Option D)

9. You have the following transactions post to your account on the same day: your paycheck deposit, a check you wrote for your rent, and a debit transaction for groceries. Which would be processed FIRST?

• Your paycheck deposit
• The check you wrote for rent
• The debit transaction for groceries
• It depends which day of the week it is

10. You deposit your birthday check for $50 at the TCF ATM. When will you have access to the money?

• Immediately
• Same day
• One business day
• One week later