Personal Checking 2

What distinguishes a checking account from a savings account?

• It requires a higher minimum balance
• It allows for everyday spending
• It earns interest
• It is only for joint account holders
• It cannot be used for online purchases

What type of checking account typically has no fees and no minimum balance?

• Basic checking
• Interest-bearing checking
• Free checking
• Student checking
• Joint checking

What is a common fee associated with checking accounts?

• Monthly service fees
• Withdrawal fees
• Direct deposit fees
• Bill pay fees
• Online purchase fees

What feature does overdraft protection provide?

• Waives monthly service fees
• Pays interest on balances
• Automatically covers charges from a linked savings account
• Allows two people to access the account
• Provides higher interest rates

Which type of checking account is designed for students?

• Basic checking
• Interest-bearing checking
• Free checking
• Student checking
• Joint checking

What is one benefit of having a checking account?

• High interest rates
• Ability to make online purchases
• Builds credit
• Physical cash storage
• No need for a PIN