2.3 EXIT TICKET- Beware of Banking Fees Exit Ticket

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1. Which of the following statements is TRUE about overdraft fees?

• You are legally required to have overdraft protection for your account
• They are charged if you fail to meet the minimum balance requirement
• You are charged when more money is withdrawn from your account than it has available
• They are a one-time payment made by the bank to the account holder

2. All of the following are 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

3. All of the following are ways to avoid ATM fees EXCEPT…

• Avoiding out of network ATMs
• Finding a bank that reimburses you for ATM fees
• Using your debit card instead of withdrawing cash to make a purchase
• Withdrawing money from your savings account instead of your checking account