Banking Fees and Alerts Worksheet

The difference between insufficient funds fee and overdraft fees is:

• Insufficient funds fee is charged when a transaction is declined due to lack of funds, while overdraft fees are charged when a transaction exceeds the account balance and is covered by the bank.

• Insufficient funds fee is charged when a transaction exceeds the account balance and is covered by the bank, while overdraft fees are charged when a transaction is declined due to lack of funds.

• Both fees are charged for the same reason and there is no difference.

• Insufficient funds fee is charged for international transactions, while overdraft fees are for domestic transactions.

According to the article in Nearpod how many withdrawals can someone make on excessive transaction fees within a month?

• 6

• 3

• 5

• 8

What is the charge for a wire transfer?

• $16 to $35 for domestic and international transfer

• $5 to $15 for domestic and international transfer

• $36 to $50 for domestic and international transfer

• $51 to $70 for domestic and international transfer

What is the fee for closing your account early?

• $25.

• $10.

• $50.

• No fee.

Which is not an example of banking fees?

• Subscription fee

• excessive transaction fee

• Insufficient funds fee

• wire transfer fee

• Early account closing

What is the name of the lady in the video speaking about overdraft fees?

• Ms. B Helpful

• Ms. A Kind

• Ms. C Generous

• Ms. D Wise

How much money did banks earn in 2019 in overdraft fees?

• 11 billion

• 5 billion

• 20 billion

• 15 billion

You can opt in and out of overdraft fees?

• True

• False

According to the article provided what is 1 of the mobile banking alerts that help protect your money?

• Large purchase alert

• Unusual account activity alert

• Large ATM withdrawal alert

• Low balance alert

• Debit card alert