BANKING GENERAL KNOWLEDGE
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Why is it so important to have a checking account?
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Without a checking account, you are unable to cash your paycheck or pay your taxes
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A checking account facilitates the rest of financial life by making your money available when and where you need it while also keeping it safe
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Opening a checking account is the only way to gain access to a savings account, which is essential if you want to make money by investing
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Opening a checking account is the first step in building your credit history, which you will need in order to receive loans, scholarships, and grants for college
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Explanation:
Detailed explanation-1: -Because putting your money in an FDIC-insured bank account can offer you financial safety, easy access to your funds, savings from check-cashing fees, and overall financial peace of mind. If you do not currently have a bank account, but have been thinking about opening one, here are some things you should consider.
Detailed explanation-2: -Your money will be protected from theft and fires. Plus, your money will be federally insured so if your bank or credit union closes, you will get your money back. The maximum amount of money that can be insured is $100, 000. Many banks offer an interest rate when you put your money in a savings account.
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