Question

What features and fees are associated with checking accounts?

Checking accounts, or what are more generally called checkable deposits, are accounts that allow account holders to write checks against the balance. In addition to checks, these accounts usually offer debit, or check, cards that account holders can use either in an automated teller machine (ATM) or in a point-of-sale (POS) terminal.

There are two major types of checking accounts. The distinguishing characteristic involves which of the following?

The payment of interest by some accounts and not others

The nature of the financial institution that offers the accounts

Which of the following are examples of an interest-earning checking account? Check all that apply.

1. Regular checking account

2. Share draft account

3.Negotiable order of withdrawal (NOW) account

Answer 1

1. Option A The payment of interest by some accounts and not others

there are two different types of checking account

1. The account that offers Interest like Share drat account or NOW Account

2. The account that doesn't offers Interest like Regular Checking account

Which of the following are examples of an interest-earning checking account? Check all that apply.

The correct is Statement 2 and Statement 3

2. Share draft account

3.Negotiable order of withdrawal (NOW) account

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