Question

Morgan is moving to a new city. Select all of the factors she should consider when selecting a new financial institution.

Answer 1

Fees- Everything has a cost. Especially institutions, that are public.

Minimum Balance needed in an account-
If you are considering to buy anything, be sure to know your average amount of dollars you have, to know how much money you can spend. Be sure to have some left over.

Interest rates- The percentage you are being charged for. Be sure to have money left over for it.

Services- Pick the best services.

Answer 2

Answer:

minimum balance needed in an account, ATM's available, services, fees, and FDIC insured

Explanation:

Minimum Balance Needed in an Account-This allows her to know if she is even eligible for the insitiution due to her spending habits. If she doesn't think she's able to have that minimum amount at all times, then it will result in avoidable fees.

ATM's Available-This way she can know how accessable her money is to her. Based on her needs, she may need it to be more accessable. This is a factor in deciding which institution to use because some banks charge fees for using other banks ATM's.

Services-When joining a new institution, you want to know what they're able to do for you. If you want a financial institution with a safe deposit box and the one you're considering doesn't have them, you know it's not the right fit.

Fees-When choosing an institution, it's best to know upfront the amounts you are at risk of paying. There may be months were mistakes happen and you need to pay the fees.

FDIC insured-If something happens to the institution, you want to know that you are able to get a portion of your money back. This protects you from losing everything.