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Nookie1986 [14]
3 years ago
13

Selecting a Bank. Steve just received his first paycheck and wants to open a checking account. There are five banks in his homet

own. What factors should Steve consider when choosing a​ bank?
Social Studies
1 answer:
Lesechka [4]3 years ago
5 0

Answer:

The answer is - Minimum balance requirements, Service charges, Per-check charges

Explanation:

Steve should select a bank based on some of these features;

  • Minimum balance requirements- Steve should pick a good bank in which their minimum balance requirement is something he can afford. There are some accounts that will require that you maintain a minimum balance before they start to charge account fees.
  • Service charges - A service charge is a fee that is charged to customers for specific services such as the use of the Automated Teller Machine (ATM) of another bank, card maintenance, debit or credit message alerts etc.
  • Per-check charges - These are fees that are charged for each check you write.

Some other things Steve can consider include; Bank proximity, interest rate, customer services.

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