Week 2 Discussion 2 FP101

Week 2 Discussion 2 FP101 - the penalty for going below...

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
A checking account is used to manage your transaction needs. These accounts make it easier to deposit and pay bills. There are some questions that you should consider when opening a checking account. It is good to know if your checking account will collect interest. At what rate will my account gain interest? If your checking account were to gain interest you probably would have to keep a considerable amount of money in it. Do I have to keep a minimum balance in my account? Some banks require you to have a minimum balance in your account. If it does, a good question to ask is: “How much is the minimum, and what is
Background image of page 1
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: the penalty for going below that?” If you do not have direct deposit set up, some banks may require you to pay a monthly fee. How much is the monthly fee? Will I be able to access that account with a debit card? A lot of banks have an overdraft protection plan, this helps spend more than what you have in your account, and it is a good question to ask. They may be hiding some additional fees, so be sure to ask them if there are any other fees....
View Full Document

This note was uploaded on 03/17/2012 for the course ALL all taught by Professor All during the Spring '10 term at University of Phoenix.

Ask a homework question - tutors are online