Monthly Bank Maintenance Fees Quiz

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Questions and Answers

What is the average fee charged by out-of-network ATM operators, according to Bankrate?

  • $25
  • $3
  • $5
  • $4.73 (correct)

How many free withdrawals and transfers per month are savings account holders allowed before incurring an excessive transaction fee?

  • Ten
  • Two
  • Four
  • Six (correct)

What can help you avoid overdrawing your bank account?

  • Making large purchases only
  • Using cash for all transactions
  • Signing up for direct deposit (correct)
  • Regularly checking your account balance

What can banks offer to cover purchases when you don't have enough money in your bank account?

<p>Overdraft coverage or protection (C)</p> Signup and view all the answers

What type of accounts are recommended for low fees and higher-than-average interest rates?

<p>Online bank accounts that are FDIC-insured (C)</p> Signup and view all the answers

What is one way account holders can avoid monthly maintenance fees?

<p>Opening both a checking and savings account at the same bank (D)</p> Signup and view all the answers

Which bank was rated best overall for its no-fee checking account according to CNBC Select?

<p>Capital One (C)</p> Signup and view all the answers

What can account holders do to minimize out-of-network ATM fees?

<p>Take out a larger dollar amount at an out-of-network ATM (C)</p> Signup and view all the answers

What is a common way for account holders to get out of monthly fees according to the text?

<p>Maintaining a minimum balance in the account (A)</p> Signup and view all the answers

Which bank offers refunds for out-of-network ATM fees according to the text?

<p>Synchrony Bank (A)</p> Signup and view all the answers

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