Ask Question
7 July, 15:23

Distinguish between the costs of having a basic checking account and an interest-bearing checking account.

+4
Answers (1)
  1. 7 July, 17:00
    0
    Basic Checking account vs interest-bearing checking account.

    The main difference of these two accounts is the interest.

    Basic checking account does not earn interest. Regardless of how long the money stays in the bank, whatever amount it is, it is still the same amount.

    Interest-bearing checking account as the name implies earns interest. Sometimes, it must maintain a certain amount for it to earn interest.

    Both accounts may have atm access or online/mobile access aside from its check book. Both accounts may also be subject to penalties if its balances fall below the required minimum maintaining account.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Distinguish between the costs of having a basic checking account and an interest-bearing checking account. ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers