Question

What advice would you offer to someone who is considering opening a checking account? What fees and criteria should they pay attention to? Why?

Answer 1

Answer:

I would give the person these 4 recommendations:

• The person should look for a checking account that does not charge any fees for withdrawals, or that charges a very low fee.
• The person should look for a bank that has a large number of ATMs available, or alternatively, lots of possibilities for online payments.
• The person should look for a bank that does not demand a keeping a minimum balance.
• Finally, the person should research all paperwork that is needed before opening the checking account, in order to streamline the process.