BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A college student attends school out of state in Minnesota but her bank is in Colorado.
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Your online accounts will earn more interest than your other accounts.
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You won’t have any fees.
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You have trouble keeping track of check payment transactions.
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Detailed explanation-1: -Online banking allows you to access your account history and transactions from anywhere. This is the quickest way to see whether a transaction has cleared your account. It also enables you to find out about any unauthorized transactions more quickly, so you can dispute them right away.
Detailed explanation-2: -Online banking also allows you to access your banking history and transactions from anywhere. You are able to quickly determine if a transaction has cleared your account. Another quick and easy convenience of online and mobile banking is the ability to transfer money between accounts.
Detailed explanation-3: -Helps in gaining financial literacy: When you open a bank account, you actually open the window to understanding how money works and how you can make the best use of it. The student is introduced to various financial terms and their relevance. It also helps to inculcate good saving habits.