Question

James wants an account with the lowest fees. Which checking account would be best for James?

Answer 1

Complete question:

James has $1,500 to open a checking account. It maintain a monthly bills of at least $1,000. He plans to use ATM for times per month at his local branch. He does not overdraft his account and plans to use direct deposit. He also plans to pay his bills online and the averages 8 bills per month. James once in account with the lowest fees. Which checking account were the best for James

Answer:

Account A

Step-by-step explanation:

Jame's needs:

Opening amount - $1500

Monthly bills - atleast $1000

overdraft - No

Direct deposit - yes

Average number of Online bill payment - 8/month

ATM Usage - 4 times per month at local branch

Comparing the different checking accounts :

ATM usage = free

Online bill payment charges = free

Minimum balance = $0

Monthly fee = $0 with direct deposit which is what James intends to utilize.

Therefore, Account A seems to be the best for James as it offers the lowest fee to cater for Jame's needs or purpose