<u>The disadvantage of banking with national retail banks is that they charge fees for many services.
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Further explanation:
National Retail banks are known as a consumer bank because they provide services to the public instead of corporations, companies, or other banks and have a nationwide presence.
Justification for the correct and incorrect answer:
They have small ATM networks: This option is incorrect.
The national retail banks have a presence in all the cities of the country, and they also have a large network of at spreading across the country.
They charge fees for many services: This option is correct.
The banks charge the fee for the services provided by them. The fees are charged for following activities like account maintenance, overdraft facility, minimum balance requirement, ATM, debit card, credit card, and foreign transactions.
They offer a small range of products and services: This option is incorrect.
They offer a different kind of product and services like transaction account, debit and credit card facility, savings account, traveler’s check, mortgages, personal and home loans, and term deposits
They are located primarily in and around cities: This option is incorrect.
The national retail banks have a nationwide presence. Their presence is not limited to one city, but they have a large network spreading all over the country through branches.
<u>Therefore, the disadvantage of banking with national retail banks is that they charge fees for many services.
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Answer details:
Grade: High School
Subject: Business
Chapter: Banking
Keywords: The disadvantage, of banking, with, national retail, banks, they, have, small, atm, networks, they, charge, fees, for, many, services, they, offer a small range, of products, and services, they, are, located, primarily, in and around, cities.
