BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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For different services
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They want money
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Because they are mean
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So I can leave their bank
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Detailed explanation-1: -Often the service charges are nominal and only levied when the user exceeds a certain limit for free services. For example, if your bank balance slips below the minimum balance limit, you need to pay a fee. Similarly, the number of free ATM withdrawals may be capped, and charges may apply after the cap.
Detailed explanation-2: -Why Do Banks Charge Fees? Banks charge fees to help make a profit. Bank fees allow financial institutions to recoup operating expenses. Banks also make money on loans, via interest and other fees.
Detailed explanation-3: -Account maintenance and minimum balance Many banks charge fees for maintaining checking or savings accounts. How much? $5 to $25 per month-accounts with more bells and whistles, like rewards accounts, may charge more.
Detailed explanation-4: -Why do banks charge monthly maintenance fees? Financial institutions are for-profit businesses and need to make money to survive. Monthly maintenance fees contribute to this profit and help cover operating costs.