Macky wants to open a checking account. He is examining different banks and banking accounts. Then he will choose a bank account
for his needs. Which of the following statements should not be one of Macky’s reasons for choosing a bank? a.
Being more informed leads to being better prepared to make financial decisions.
b.
Banks could have charges that Macky does not know about until reading carefully.
c.
The first bank Macky considered offered a chance to win a prize upon opening an account.
d.
He will become more aware of how well banks meet his particular needs.
Great question, it is always good to ask away and get rid of any doubts that you may be having.
When choosing a bank account the main important factors are what the bank charges in fees, what the APR % is , and what are the restrictions or limits that the bank places on it's customers. A bank account should <u>NEVER</u> be chosen based on the prize that the bank offers when opening an account. This is because banks use prizes as a marketing scheme to convince people to open up accounts with them, but they usually have way higher fees than other banks which will end up costing you a lot of money in the long run.
Therefore the answer is C.
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