Which of the following represent typical account fees? A) ATM Fee B) Service Fee C) Minimum Balance Fee or D) All of the above

Question

Business

Izabelle Proctor

14 April, 16:47

Which of the following represent typical account fees? A) ATM Fee B) Service Fee C) Minimum Balance Fee or D) All of the above

+2

Answers (1)

Know the Answer?

Wilkerson · Answer 1

Account fee is the fee paid for maintenance, the fee you pay to the bank, brokerage or any other organization to keep your account open.

A) ATM fee is the fee paid for using the automated teller machines (ATMs) of the banks and this is not an account fee.

B) Service fee - is a monthly or annual maintenance fee for certain account you pay to the bank, and this represents typical account fee.

C) Minimum balance fee is the minimum amount of money that a customer must have in an account in order to receive some sort of service. This means that this is not an account fee.