BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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It will alert you when your balance falls below a certain amount, and you will know to stop spending until you can add additional funds
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It will make it impossible to overdraw your account
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When triggered it will automatically transfer money from your savings account so you don’t overdraw
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It will freeze your account so that no one can make any withdrawals for 24-hours
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Detailed explanation-1: -Setting up a low balance alert will warn you when your account balance has fallen below the threshold amount. An unexpected low balance could signal fraud, a missed transfer, a late direct deposit or another scenario to investigate.
Detailed explanation-2: -Your bank will send you an alert when your chequing or savings account is low on funds. This will help you: make sure you have enough money in your personal account to cover withdrawals, purchases or pre-authorized payments such as bills.
Detailed explanation-3: -A low balance alert notifies you when your account falls below a predetermined amount. This alert helps avoid overdrawing your account, overdraft fees, card declines and bounced checks.
Detailed explanation-4: -This alert notifies you when funds of an amount you specify are credited to your account (checking, savings, loan or credit card)-either as a deposit by you or someone else on the account-or as an auto-deposit, such as a paycheck from your employer.