Why would it be important to have a low minimum balance requirement on a student checking account?.

1 answer:

7 0

It would be important to have a low minimum balance requirement on a student checking account in order to reflect a student's lifestyle.

<h3>What is a minimum balance requirement?</h3>

A minimum balance requirement refers to the minimum amount of money that is required to keep in a bank account, usually in order to claim the account's monthly fee.

Bank required the depositers and account holders to keep the minimum amount of money in the bank account due to various reasons. The major reason is that, it allows the bank to have more deposits, which in turns allows them to lend more money.

Basically, Banks require minimum balances to maintain certain regulatory financial ratio requirements.

Learn more about minimum balance requirement here:

brainly.com/question/2977924

#SPJ1

You might be interested in

When a commercial item is procured by the government, what will the contractor provide to the government that documents the func

Kitty [74]

<span>When a commercial item is procured by the government, the contractor will provide a </span>TDP or Technical Data Package<span> to the government</span> that documents the functional, performance, and physical characteristics of their product and will assist in the development of configuration management efforts.

4 0

3 years ago

For each of the scenarios below, determine whether you think it is likely that an employer could be discriminating against apers

mihalych1998 [28]

Answer: A young lawyer who just finished work on a multimillion -dollar development deal downtown is hired by an economic development ﬁrm in lieu of an older lawyer who works on litigation

This is not a case of discriminating against a person because of age, as we can see the young lawyer is better suited for a job in economic development as he already has worked on a development deal, where as the older lawyer is a litigator

A large retail outlet hires an 80-year-old woman to greet customers instead of a 30-year-old woman who has been greeting customers in other stores for a decade

This may be a case of age discrimination, because the 30 year old seems to be the better candidate, because she has experience in this work and will be more energetic than the 80 year old as well

The owner of a local, hip smoothie bar in a university town just fired a graduate student who had worked at the bar for three years and instead hired a college sophomore.

This may be a case of age discrimination because the employer is firing a graduate who has had 3 years of experience and hiring someone who hasn't graduated and has no experience

Explanation:

3 0

4 years ago

Which statement is TRUE about insurance coverage on customer brokerage accounts maintained at banks registered solely as municip

Norma-Jean [14]

Answer: D. No insurance protection is offered on customer municipal accounts maintained at bank broker-dealers

Explanation:

Broker-Dealer are required to register their customers for insurance under the Securities Investor Protection Corporation (SIPC).

Broker-Dealers who however handle only tax-exempt securities such as municipal bonds are not required to be registered under the SIPC.

As this bank handles only municipal securities, they is not required to be registered under the SIPC which means that no insurance protection is offered on customer municipal accounts maintained by them.

5 0

4 years ago

In the context of supply chain management (scm) technologies, _____ enables business partners to send and receive information on

Paladinen [302]

The Electronic Data Interchange is the element of supply chain management that enables the business partners to send and receive information on business transactions.

<h3>What is an Electronic Data Interchange?</h3>

This refers to the electronic interchange of business information which a company sends to another company, individual, stakeholders etc.

Hence, this is element of supply chain management that enables the business partners to send and receive information on business transactions.